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Internal Revenue Code Section 1 8 3 ( Activities Not Engaged in for Profit ) limits deductions that can be claimed when an activity is
Internal Revenue Code Section Activities Not Engaged in for Profit limits deductions that can be claimed when an activity is not engaged in for profit. IRC is sometimes referred to as the hobby loss rule.
Generally, if an activity is not for profit, losses from that activity may not be used to offset other income.
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