1099 racing

[gman]

Taxpayer recieves 1099 nonemployee comp for 1200.00 Taxpayer has probably 5000.00
in expenses. Taxpayer raced basically as hobby. Hobby income can be offset by expenses up to income. Shoud this be reported on C or line 21. Should a schedule be used to show offset of income by listing expenses?

[Luis Mopeo]

Taxpayer recieves 1099 nonemployee comp for 1200.00 Taxpayer has probably 5000.00
in expenses. Taxpayer raced basically as hobby. Hobby income can be offset by expenses up to income. Shoud this be reported on C or line 21. Should a schedule be used to show offset of income by listing expenses?

Page 5-20 of TheTaxBook. Hobby income is reported on line 21 of Form 1040. Expenses are reported on Schedule A subject to 2% limit.