Search Help


Enter one of more keywords to search. Use quotes for “exact phrase.” Note that '*' and '?' wildcards are supported.

When your search results appear, you can refine your search further: Sort for only results in which all search terms appear AND/OR sort by chronological order.

Article Date:
January 2007


Word Count:
371

 

 

Is Failure a Hobby?


I started an antique business in February 2006 (last year). At startup, I rented space from an antiques dealer and stocked my space with what you might call stuff from Goodwill-type outlets. Last October I shut this business down. Things did not work. Can I deduct the loss from this failed business on my 2006 tax return? Can the IRS come back and say that this was just a hobby and not a serious business? (S.M., ... Log in to view full article.

Log in to view full article
Already a subscriber?
 
Email Address

 
Password

Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
 
with a money-back guarantee



 

SS