For the Years 2015 Through 2019 (Inclusive)Mary,a Best-Selling Author,has Been

question 116

Multiple Choice

For the years 2015 through 2019 (inclusive) Mary,a best-selling author,has been involved in operating an antique store.In 2015,2016 and 2017 her revenue exceeded the expenses from the activity.In 2018 and 2019,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.

---

Definitions:

Gold

A precious yellow metal that has been used for coinage, jewelry, and other arts throughout recorded history and acts as an economic and financial asset.

United States Supreme Court

The highest federal court in the United States, consisting of nine justices and holding ultimate appellate jurisdiction over all U.S. federal court and state court cases involving matters of federal law.

Woman's Private Decision

A term often related to discussions around reproductive rights and body autonomy, emphasizing the belief that certain choices should be made by the individual woman rather than being legislated or controlled by others.

George McGovern

An American politician and historian, best known for being the Democratic Party's nominee for President in 1972.