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Which of the following factors would indicate to the IRS that an activity is a hobby rather than a business? a . The taxpayer invests
Which of the following factors would indicate to the IRS that an activity is a hobby rather than a business?
a The taxpayer invests time and effort with the intent to make a profit.
b The taxpayer depends on the activity for a livelihood.
c The taxpayer has pursued the activity for many years and never made a profit.
d The taxpayer has the knowledge to conduct the activity as a business.
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