Tax deductible for expenses related to body building context?

I have participated to body building competition in 2007 and won number two in the trial states. Will I be able to deduct the training related expenses for tax deduction? If I could, what other related expenses that I could deduct (such as vitamin, etc)? This competition is not professional, it is for amateur. Thank you!

Public Comments

  1. Hobby income goes on line 21 of the 1040. Hobby expenses--limited to the amount of winnings--go on schedule A as an itemized deduction. Vitamins are not going to count as an expense. If there are no winnings, you cannot deduct any expenses.
  2. If you have made a significant amount of money with body building, then you can consider it a business. In this case, you should file a shcedule C (or CEZ) to report the business income and all of the related expenses (including travell!!). It is possible that you will techically suffer a loss in this business venture- which would be a tax benefit to you, because you will have a negative income, which will be subtracted from any other income you have. just be careful: if you end up with a negative income year after year, it can be treated as a hoby instead of a business.
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