For the Years 2014 Through 2018 (Inclusive) Mary, a Best-

question 2130

Multiple Choice

For the years 2014 through 2018 (inclusive) Mary, a best- selling author, has been involved in operating an antique store. In 2014, 2015 and 2016 her revenue exceeded the expenses from the activity. In 2017 and 2018, the antique store generated a loss. Which statement is correct?

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

Cervical

Relating to the cervix, which is the lower, narrow part of the uterus that opens into the vagina.

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Lung Drainage

A method used to remove excess fluid or mucus from the lungs to improve respiratory function.