For the Years 2011 Through 2015 (Inclusive)Mary,a Best-Selling Author,has Been

question 64

Multiple Choice

For the years 2011 through 2015 (inclusive) Mary,a best-selling author,has been involved in operating an antique store.In 2011,2012 and 2013 her revenue exceeded the expenses from the activity.In 2014 and 2015,the antique store generated a loss.Which statement is correct?

• A)The activity is a business.The IRS cannot prove it is a hobby.
• B)The activity is a hobby.Mary cannot prove it is a business.
• C)The activity is presumed to be a business.However,the IRS may prove it is a hobby.
• D)The activity is presumed to be a hobby.However,Mary may prove it is a business.

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Definitions:

Ph.D. In Psychology

A doctoral degree that represents the highest level of education in the field of psychology, focusing on research, theory, and clinical practice.

University of Minnesota

A public research university located in Minneapolis and St. Paul, Minnesota, known for its high-quality education and research programs.

Behaviorism

Behaviorism is a psychological approach that emphasizes the study of observable behaviors and the processes behind learning, excluding theories of the mind.

Wundt

Wilhelm Wundt, often regarded as the father of experimental psychology, who established the first psychological laboratory in Leipzig, Germany, in 1879.