Andrew's hobby is painting.During 2019, Andrew sold three of his paintings for a total of $2,200.His related expenses include $800 utilities, $1,200 supplies, and $400 in depreciation.Of these expenses incurred, how much can Andrew deduct in the current year?

Question

Quizplus · Accepted Answer

Since Andrew's painting is a hobby and not a business, he cannot deduct expenses that exceed his hobby income. His income from selling paintings is $2,200, but hobby expenses are not deductible under the Tax Cuts and Jobs Act (TCJA) for tax years 2018 through 2025.

Andrew's Hobby Is Painting