Can I deduct hobby material and misc. expenses?

You deduct the expenses for a hobby, up to hobby income, on Sch. A, itemized deductions. They would be deducted on line 23 of the Sch.

A, Other expenses. These expenses are subjet to limitation of 2% of your adjusted gross income. This is to say that these expenses, plus other business related expenses, have to total more than 2% of your AGI, and you are only allowed to deduct the portion above the 2% figure.

Keep in mind also that you have to have enough itemized deductions to exceed the standard deduction for your filing status. Pages 198-200 of the IRS Pub 17 I have linked below, discuss other expenses that may be deducted in this section of Sch. A.

Laura H – H&R Block – Senior Tax Advisor 5 **This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. More.

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