If an activity does not generate a profit in three out of five consecutive years, is it

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If an activity does not generate a profit in three out of five consecutive years, is it automatically deemed to be a hobby? Why or why not?

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Federal Taxation 2018 Comprehensive

ISBN: 9780134532387

31st Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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Question Posted: Mar 20, 2018 01:19 AM

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If an activity does not generate a profit in three out of five consecutive years, is it

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No it is not automatically deemed a hobby The other factors m...View the full answer

Federal Taxation 2018 Comprehensive

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