If an activity does not generate a profit in three out of five consecutive​ years, is it automatically deemed to be

QI:6-7
If an activity does not generate a profit in three out of five consecutive​ years, is it automatically deemed to be a​ hobby? Why or why​ not?


QI:6-8
Because expenses incurred both in a business and for the production of investment income are​ deductible, why is it important to determine in which category a particular activity​ falls?


QI:6-10
What are the criteria for distinguishing between a deductible expense and a capital​ expenditure?


QI:6-12
Under what circumstances may a taxpayer deduct an illegal bribe or​ kickback?


QI:6-16
What documentation is required in order for a travel or entertainment expense to be​ deductible?