. Using AnswerConnect, perform a keyword search on the topic of making an election to defer the determination of whether an activity is engaged in for profit (hobby) until after the fourth year. Use the terms election to postpone determination.

a. Based on only the results of this search, using the IRC document type, what IRC section covers this election?

b. Use the results of the previous search and using a Topic document, determine what IRC section covers the presumption of income.

c. How does the IRC section answer the question regarding how to make the election?

d. Using the tab for Regulations, what does Reg. 1.183-3 say about making the election?

e. Which regulation discusses the election, and what is the status of the regulation? When was it issued?