IRS Publication 225 states "4-H Club or FFA project. If an individual participates in a 4-H Club or National FFA Organization (FFA) project, any net income received from sales or prizes related to the project may be subject to income tax. Report the net income as “Other income” on Schedule 1 (Form 1040), line 8z. If necessary, attach a statement showing the gross income and expenses. The net income may not be subject to SE tax if the project is primarily for educational purposes and not for profit, and is completed by the individual under the rules and economic restrictions of the sponsoring 4-H or FFA organization"
If I incurred a net loss do I put $0 or a negative number as net income as “Other income” on Schedule 1 (Form 1040) ?
Why does this have to be so complicated for a FFA or 4H project?
