I'm jealous of you guys that profit from trapping. I've been losing money since I bought my first trap!

If you have not been reporting the income in the past you may have an issue, maybe a significant one if fur income is a few grand or more per year and has been for several years. You can create a business and record income and expenses using a schedule C. Another way if income is not really too large and you don't want the hassle of doing schedules, keeping logs etc. etc. is list the fur income in the line where gambling income etc. is listed. Bryce

Are they ok with a person taking a schedule C loss every year?
The people I have hired thought no?

I ran mine as a business and claimed everything then got out of it for a while. Now it's all part of the farm - like selling hay or firewood. It all goes in a big pot and at the end of the year it doesn't matter much at all as far as taxes go but it is there just in case there are questions.

In my business I hired a CPA. He gave me a line of bull about how he would save me money and he charged me $1800 a month to make my monthly reports and make sure I was following all rules but not overpaying anything to the government. The IRS sent me a letter saying they did not get my monthly tax payment- 4 months back and they were fining me a late fee. I paid it over the phone. Next month - same thing so I called the guy and he told me to ignore it. His exact words were '' those people at the IRS don't know their butts from a hole in the ground''. So I called the IRS and talked to a polite and informative person who told me the next two months were late too and I should fire my CPA and get one that knows what he is doing. Best advice I ever got. I paid the fines- my mistake for hiring the guy. Found out he was having his college kid do the work from his dorm room - my business books!!!! The IRS has been honest and good to work with every single time I have ever had contact with them.