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Just PoliticsLeisure
Welcome to the Notary Talk General Discussion Forum. Before posting, please read the

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 Re: must make profit 3 out of 5 years
Posted by Carolyn Bodley on 2/22/21 5:19pm

IRS safe harbor rule states that you must make a profit for 3 out of 5 consecutive years or you are considered a hobby,

While trying to write off everything under the sun as a biz deduction is tempting, it could get someone in “hobby jail.”
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