Wondering if I dare declare a loss for music business income. I made about $3K last year from music gigs (W2'd). I bought $2K in equipment, plus $500 on misc supplies and sheet music. I have $1K carry forward on a double bass I am expensing out over 7 years. I drove 1000 miles on gig work plus rehearsals (1 job = 1 ensemble rehearsal + 1 performance on different days), plus 500 miles on shopping for supplies, repair shops etc. Something inside me tells me I ought to report $0 income instead of a loss to play it safe. Any thoughts?