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Karl started a second business four years ago selling used video games and reconditioning video game consoles for resale. He puts all of his spare
Karl started a second business four years ago selling used video games and reconditioning video game consoles for resale. He puts all of his spare time into this enterprise and does not consider it a hobby. This is his fifth year in business. To avoid the hobby rules, Karl's business must show a profit in ___ of the past five years to be considered engaged in for-profit by the IRS.
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