Examlex
If property taxes and home mortgage interest expense are related to a hobby, the excess amount of these items over the hobby income cannot be deducted even if the taxpayer itemizes deductions.
Q3: Tommy, an automobile mechanic employed by an
Q8: The work-related expenses of an independent contractor
Q10: Research and experimental expenditures do not include
Q12: Personal expenditures that are deductible as itemized
Q55: A sole proprietorship purchased an asset for
Q56: A taxpayer who lives and works in
Q68: Swan Finance Company, an accrual method taxpayer,
Q72: Martha participated in a qualified tuition program
Q111: A cash basis taxpayer purchased a certificate
Q112: If a lottery prize winner transfers the