Can I claim something I made "on the side" as an REI expense?
Suppose I buy a painting and use it in staging of a property that I am selling (that is, I am not the realtor selling, it's my property). Then it looks like the cost of the painting can be deducted as an expense for tax purposes. Now suppose I painted that myself. Can I deduct expenses associated with that? I don't actually paint but I do have a hobby (woodworking) and what I make might potentially be used in staging or even be left behind with the sold property for the new owner. There are expenses associated with the hobby -- can I deduct at least some of them? To clarify: I am not doing the woodworking to help my REI efforts, but if I can legally recoup some of the costs this way, I wouldn't say no to that.