Which of the Following Is Not a Factor That the IRS

question 68

Multiple Choice

Which of the following is not a factor that the IRS looks at to determine if a loss is from a hobby or from a business?

• A)Whether the activity is owned and run by the taxpayer alone
• B)The history of the income and loss from the activity
• C)Whether the losses are due to circumstances beyond a person's control
• D)The financial status of the taxpayer

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Definitions:

Hydrologic Cycle

The hydrologic cycle describes the continuous movement of water on, above, and below the surface of the Earth, through processes such as evaporation, condensation, precipitation, and infiltration.

Groundwater

Water held underground in the soil or in pores and crevices in rock.

Fractures

Breaks in rock or mineral without the movement parallel to the surface of the break, often a result of stress exceeding the strength of the material.

Underground Lakes

Bodies of water that exist beneath the Earth's surface, often found in caves or formed by natural aquifers.