What is the difference between a trade or business and a production of income activity and why

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What is the difference between a trade or business and a production of income activity and why is it important to distinguish between these two types of activities?

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Concepts In Federal Taxation

ISBN: 9780324379556

19th Edition

Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher

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Question Posted: Mar 29, 2013 02:55 AM

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What is the difference between a trade or business and a production of income activity and why

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The term trade or business has not been adequately defined in the Internal Revenue Code or the Treasury regulations Whether an activity is a trade or ...View the full answer

Concepts In Federal Taxation

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