Posted by Tony C. on December 11, 2012 at 16:02:41 from (126.96.36.199):
In Reply to: D.O.T. posted by JimEvans on December 09, 2012 at 07:51:50:
Quoting Removed, click Modern View to see
That's interesting about the Guidance given. It seems they want you to report the winnings as ordinary income but not report expenses. This runs counter to activities like gambling, where you can deduct losses up to the amount of winnings; that makes it a wash financially and is treated as a hobby. Only non-hobbyists (professional gamblers) can deduct losses that exceed winnings for the year. You would think that for hobby car racing it would work the same way, declare the winnings and expenses, but don't be allowed to take a loss.
Fast Shipping! Most of our stocked parts ship within 24 hours (M-Th). Expedited shipping available, just call! Most prices for parts and manuals are below our competitors. Compare our super low shipping rates! We have the parts you need to repair your tractor. We are a company you can trust and have generous return policies. Shop Online Today or call our friendly sales staff toll free (800) 853-2651. [ About Us ]
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.