Which of the following is not relevant in determining whether an activity is profit seeking or a hobby?
A)Whether the activity is enjoyed by the taxpayer.
B)The expertise of the taxpayers or their advisers.
C)The time and effort expended.
D)The relationship of profits earned and losses incurred.
E)All of these are relevant factors.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is not relevant in determining whether an activity is profit seeking or a hobby?
A)Whether the activity is enjoyed by the taxpayer.
B)The expertise of the taxpayers or their advisers.
C)The time and effort expended.
D)The relationship of profits earned and losses incurred.
E)All of these are relevant factors.

Which of the Following Is Not Relevant in Determining Whether