Should the value of reviewed Amazon Vine products be reported as business or hobby income, and what would be the criteria for choosing either?
When you receive products through the Amazon Vine program, the value of those products is generally considered taxable income. Whether you report this as business income or hobby income depends on your intentions and the nature of your activities. Here are the criteria to consider: **Business Income:** 1. **Profit Motive:** You participate in the Amazon Vine program with the intention of making a profit. 2. **Regular and Continuous Activity:** You engage in reviewing products frequently and consistently. 3. **Business Operations:** You conduct your reviewing activities in a business-like manner, which might include keeping detailed records, having a dedicated space for your work, and investing time in improving your reviewing skills. If you meet these criteria, you would typically report the income on Schedule C (Profit or Loss from Business) and could potentially deduct related expenses. **Hobby Income:** 1. **Lack of Profit Motive:** You participate in the Amazon Vine program without the intention of making a profit, perhaps as a leisure activity. 2. **Sporadic Activity:** Your reviewing activities are irregular or infrequent. 3. **Personal Pleasure or Recreation:** The primary purpose of your participation is for personal enjoyment rather than financial gain. If these points describe your situation, you would report the income as hobby income on Schedule 1 (Additional Income and Adjustments to Income), line 8 of your Form 1040. Under the Tax Cuts and Jobs Act of 2017, you can no longer deduct expenses related to
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