lf activity is not considered "engaged in for profit" because it does not meet the IRS presumption of profit. the_____. facts and circumstances may still indicate that the taxpayer has profit motive. activity will automatically be considered

50% 80% 1009 Mark for follow up uestion 37 of 75. an activity is not considered "engaged in for profit" because it does not meet the IRS presumption of profit, the Facts and circumstances may still indicate that the taxpayer has a profit motive. Activity will automatically be considered a hobby with no other recourse for the taxpayer. Activity will automatically be considered "engaged in for profit" when three of nine profit factors are met. esting period and losses are suspended, since a taxpayer does need to continue efforts to further the interests of sidered engaged in for profit. k for follow up