How do I report Hobby Income and Expenses, specifically for a Singing group? I receive a T4A for this in my name.

[tols]

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.

[TurboTaxLynda]

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