Schedule C Hobby Loss Exam On-Demand Webinar
The IRS allows deductions for ordinary and necessary
expenses for a business; however, if the IRS deems the activity a hobby because it’s not engaged in for profit, expenses will be limited. This webinar will review the hobby loss rules under §183 and what you should do before and during an IRS exam to help save those claimed losses.
Upon completion of this course, you will be able to:
- Summarize the hobby loss rules
- Describe the nine factors the IRS uses to determine if an activity is a business or hobby
- Identify things the practitioner can do with clients to bolster their case that the activity is not a hobby
This on-demand webinar includes the presentation slides, exam questions, recording of the webinar broadcast with review questions, and attendee top questions. CPE is issued after exam is successfully completed.
Eric Green, Attorney