Which of the following factors would indicate to the IRS that an activity is a hobby rather
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Question:
Which of the following factors would indicate to the IRS that an activity is a hobby rather than a business?
a.The taxpayer has pursued the activity for many years and never made a profit.
b.The taxpayer has the knowledge to conduct the activity as a business.
c.The taxpayer depends on the activity for a livelihood.
d.The taxpayer invests time and effort with an intent to make a profit.
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