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:

Dynamic Displays

Interactive or changing visual presentations that adjust content or format based on user actions or in response to data.

Data Displays

Various ways of presenting or visualizing data to highlight patterns, relationships, or trends effectively.

Horizontal Bars

Apparatus used in gymnastics consisting of a metal bar fixed at a certain height above the ground, enabling athletes to perform exercises.

Chronological Order

A method of arranging events or information in the sequence of their occurrence in time, from the earliest to the latest.