How do I report Hobby Income and Expenses, specifically for a Singing group? I receive a T4A for this in my name.
I have a small singing group which performed for a government agency. They paid us $500 for the performance and I received a T4a in my name. The group makes no profit and all of the funds we receive go right back into music and equipment purchases. How do I report the income and expenses.
How do I report Hobby Income and Expenses, specifically for a Singing group? I receive a T4A for this in my name.
You enter your T4A slip in the Income --> Tslip section of your return.
TurboTax will transfer that income to the T2125 form for self-employment. You have to access and complete the form, you will also be able to enter your expenses on that form.
click Find (top right corner) --> type Self-Employment --> click Go
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