Which of the following is not relevant in deciding whether an activity is profit-seeking or a hobby?
A)The time and effort expended.
B)The expertise of the taxpayers or their advisers.
C)The history of income or losses from the activity.
D)The tax benefits of the activity to the taxpayer.
E)All of the above factors are to be considered.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is not relevant in deciding whether an activity is profit-seeking or a hobby?
A)The time and effort expended.
B)The expertise of the taxpayers or their advisers.
C)The history of income or losses from the activity.
D)The tax benefits of the activity to the taxpayer.
E)All of the above factors are to be considered.

Which of the Following Is Not Relevant in Deciding Whether