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Monday, July 22  |  3:20 p.m. - 5:00 p.m.  |  Concurrent Session

Hobby or Business

2 CPE for AFSP, EA, CPA, CRTP    

The hobby versus business argument is made by the IRS in many cases when a taxpayer takes losses on a tax return. Knowing how to use the IRS’s nine factors under IRC 183 for this determination can help you make good choices when preparing for the exam of a return. 

Upon completion of this session, you will be able to:

  • Summarize the IRC rules for the difference between a hobby and a profit motive business 

  • Outline the nine factors used by the IRS to make the determination  

  • Determine the treatment of income and expenses for an activity deemed a hobby  

CPE information
Duration: 100 minutes
Course level: Basic
Prerequisite: None
Advanced preparation: None
Delivery method: Group Live

Kathryn Morgan

Owner of Puzzled By Taxes LLC

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