Got an 1099 for money won last year in tournaments.Can you write off your fuel,tackle,Tournament entry fee's?
Thanks

I know you can write off your fuel, don't know about the rest.

Call a good CPA and ask. I think you have to make a good portion of your income annually to be able to write off tournament expenses but I'm not an accountant.

Look at filing a schedule C, I write off fuel, entry fee, tackle, etc

I write it all off, you have to show a profit at least in 3yrs or they will audit it you for recreation

You can claim what ever you want,IRS will tell you what they allow,you can bet on it.Then they tell you what you owe.

Depends on how much you won and if it's taxable, I think over a certain amount is taxable, I won 11,000$ in a tournament and I had to pay in roughly little over 3000$, irs has to have their cut. I listed write offs didn't do Anything.

To file a schedule C you would need to create a business for your fishing. This would allow you to deduct any expenses related to your "business" from any earnings and carry over the net effect to your 1040. Any information written above is not meant to be taken as advice but merely an example. For better information consult a CPA as mentioned above. Good luck and hope you find the information you need

can my fishing jersey and flatbill hat count as a write off?

that's the best comment ever. Lol. If I knew how to make it my SIG I would

Make sure you know the government rules before you do this. I've been having long discussions with my CPA about doing this.

Wish I could win enough money to get a 1099

It depends on how aggressive you want to get as to how you file. You can set up your fishing as a true business, but you better keep good records and have a strong business plan as to how you plan to make money in case of an audit. If you set it up as a business, you can write off any losses incurred against your normal W2 income (assuming you're a wage earner during the week).

Your other option is to simply keep as many records/receipts as you can to offset your winnings down to zero and never show a loss. This is the safe route, but it doesn't benefit you tax-wise on your W2 income.

Here are a couple links that might clarify some things for you -
http://www.taxmatterssolutions.com/Is-This-Activity-A-Business-Or-A-Hobby
http://www.nolo.com/legal-encyclopedia/operating-losses-prove-hobby-business-30000.html

I write my stuff off as well, fuel, lodging, entry, tackle...Just have to show profit in a couple years or it will get iffy with the IRS im sure haha.