I am trying to figure out what Turbo Tax program to buy to do this for me.
So, I have been selling some pelts and I got a tax form. I know there is a way to subtract the expenses or milage from the tax form to make it, so I am not being taxed on the expenses. I figure if I can do milage alone I will be a loss, put tannery fees, shipping and license fees and I should not have a tax burden for this. Not running the farm deferral so thinking it would be down as a hobby or worst-case small business.

Schedule C

Make sure you have records of expenses you intend to deduct.

mileage is generally pretty good to deduct

Use a CPA they are worth the money

Unless you have a lot of trapping income and a lot of expenses, a CPA is probably going to charge you more than the tax you will save. IMO

^^^^^^^^^^^^^^^ This ^^^^^^^^^^^^^^^^

I use Turbo Tax Home & Business, not for trapping but for an llc I own.
This will allow you to deduct what you’re looking for

Actually so will TuboTax Deluxe. All he needs is schedule C and related depreciation forms.

I don’t use a CPA for trapping I use them because they make me more money than what they ever charge and if there’s a goof up it’s on them as long as you don’t withhold information just my preference

Don't forget to put Zelensky on there as a dependent

Don’t forget Hunter and the Big Guy lol

Wiss Miss has the best advice. You have to make a lot of money to be worthwhile. I claimed all my expenses for several years, and never got passed the hobby stage.

To the OP Minz go for a business form C, take all you can for deductions, Trappers Association dues, license costs, I use Turbo Tax. You will probably get slapped in a couple years by the IRS for not making money, but tell them you were waiting for a market turn. Then you will be a hobby and not allowed to deduct over sales. You need to have a daily log of mileage and where you went, this is a pain in the butt, but that is required of you if you are writing off mileage. Good luck.

Best explained to me by an older "gentleman farmer" from Oklahoma: "Ya takes in 4-oh, ya writes down 2-oh, ...give uncle sam....ZER-OH!

My kind of guy

Buy Turbo Tax Premier for about $125 or so. We have used this for decades. Do a schedule C and when you click on mileage expenses a form will come up to show you how to put in the numbers. Don't forget this year there are 2 different mileage rates for this year. You can also depreciate equipment etc.
I use the standarg mielage rate. Some use actual miles and all vehicle related expenses. For me SMR always was better as my vehicles are not expensive and the mileage rate is the same with a 5k vehicle as it is with a 50K vehicle. Either way like with all expenses keep good records. Mileage logs are really great ways to keep track.

Bryce

Even if that were true (in my case its not...) it is still worth it to me to send LESS tax money to the Biden Administration!

Pete

This is exactly what my accountant and IRS agent told me many years ago!