Match the proper deduction method with the correct expenditures.
-Hobby loss
A)Capitalized and amortized over a number of accounting periods
B)Expensed in the period incurred
C)Not deductible
D)Can be capitalized and amortized or deductible depending on the amount of the expenditure

Question

Quizplus · Accepted Answer

Hobby losses are not deductible.

Answer: B 
 Expenditures for hobby activities are generally considered personal expenses and are not deductible.

Match the Proper Deduction Method with the Correct Expenditures