Which of the following factors is not used to determine whether an activity is a hobby or a business?
A)the taxpayer's expertise in the activity
B)the taxpayer's financial status
C)the personal pleasure derived from the activity
D)the business success of the taxpayer in other dissimilar businesses

Question

Quizplus · Accepted Answer

The business success of the taxpayer in other dissimilar businesses is not a factor used to determine if an activity is a hobby or a business. The focus is on the activity in question, not unrelated business ventures.

Which of the Following Factors Is Not Used to Determine