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Joe had revenue of $1,000, and expenses of $21,000 from an activity. He also had wages of $100,000. If the activity is classified as
Joe had revenue of $1,000, and expenses of $21,000 from an activity. He also had wages of $100,000. If the activity is classified as a business, what would be Joe's AGI? If the IRS were later to successfully challenge that the activity is a hobby, what would be Joe's AGI?
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If the activity is classified as a business Joes AGI would be AGI Revenue ...
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Taxes And Business Strategy A Planning Approach
Authors: Myron Scholes, Mark Wolfson, Merle Erickson, Michelle Hanlon
5th Edition
132752670, 978-0132752671
