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        DOCUMENT INFO

        • Type Form
        • FormatPDF
        • Size45.4 KB
        • LanguageEnglish
        • Stacks0
        • Postedover 1 year ago
        • Authored-
        • Added byHermes

        Election To Postpone Determination as To Whether the Presumption Applies that an Activity Is Engaged in for Profit

        ABSTRACT

        An activity is presumed to be engaged in for profit and not to be a hobby, if it is profitable in three out of five consecutive years. For a new business, this means that you don't have to show a profit for your first two years. The IRS does provide a f ....read more

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