IRS Wins Most Hobby Loss Cases But Don’t Let That Intimidate You
When it comes to Section 183 (Activities Not Engaged In For Profit), commonly referred to as the hobby loss rule, my goal is to be your go-to-guy. In the last year (12/13/2018-12/12/2019), I have noted fifteen hobby loss decisions . One of the decisions concerned evidence and was not a final ruling.
Taxpayers Behind And Ahead
Of the fourteen decisions with an outcome, twelve were won by the IRS…