John, I disagree. The Feds do not classify prize money,trophys or ribbons as compensation. Read the intreprentation section of the regs.They state And I Quote;Guidence:The exemption would apply to this kind of transportation provided(1)the underlying activities are not undertaken for profit ie (a)prize money is declared as ordinary income for tax purposes (b)The cost of the underlying activities is not deducted as a business expense for tax purposes and where revelant(2)corporate sponsorship is not involved. I carry a copy of this in my truck at all times and if I need it I will use it. If they don't like it, we will have our day in court.Since when is it against the law to have a hobby.Pulling a load of horses, a boat or a camper is a hobby. My tractors are a hobby and I enjoy them.
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