If an Activity Produces a Profit for at Least Two

question 79

True/False

If an activity produces a profit for at least two years during a consecutive five-year period,the burden of proof shifts to the IRS to show that the activity is not profit-motivated.

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Definitions:

Political Cohorts

Groups of individuals or entities that share similar political views or objectives, often working together for common goals.

Relative Deprivation Theory

The hypothesis that individuals assess their well-being based on comparisons with others, which can lead to feelings of deprivation when seeing others as better off.

Non-routine Collective Action

Non-routine collective action refers to unplanned, spontaneous group activities that arise in response to an event, issue, or situation, typically outside the norms of established societal patterns.

Breakdown Theory

Suggests that social movements emerge when traditional norms and patterns of social organization are disrupted.