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hobbyloss.net
We have Over 30yrs Experience in Hobby loss The IRS likes to argue that certain businesses are actually a hobby because many people lose money in them due to its high risk. The rules say you have to gain a profit in two out of five to seven years (if it is a farming related activity) to be called a business. But what if you don’t? We have won many cases where there were not two profitable years. Let us “audit risk assess” your return and handle any issues in this regard.
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