The courts have determined that to qualify as a trade or business, an activity must: A.Be operated with a profit motive B.Have capital expenses C.Show a profit D.Have ordinary and necessary expenses
The courts have determined that to qualify as a trade or business, an activity must: A.Be operated with a profit motive B.Have capital expenses C.Show a profit D.Have ordinary and necessary expenses
Chapter5: Introduction To Business Expenses
Section: Chapter Questions
Problem 14DQ
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The courts have determined that to qualify as a trade or business, an activity must:
A.Be operated with a profit motive
B.Have capital expenses
C.Show a profit
D.Have ordinary and necessary expenses
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