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  2. Internal Revenue Code section 183 - Wikipedia

    en.wikipedia.org/wiki/Internal_Revenue_Code...

    For a business (activity engaged in for profit), income and expenses are listed on Schedule C (and the net income result carries to line 12 of the Form 1040). All expenses are used, even if they create a net loss. For a hobby (an activity not engaged in for profit), income and expenses are listed separately.

  3. Navigating the fine line between business and hobby - AOL

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  4. Tax Tips: Is it a hobby or a business? - AOL

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    You've started a little enterprise in your garage or spare bedroom. And now it's tax time and you're ready to reduce your taxes by taking a whole bunch of deductions for this "business." Stop ...

  5. Heads up if you’re a freelancer or small business owner: The ...

    www.aol.com/heads-freelancer-small-business...

    Small business owners, independent contractors and gig workers soon will be getting 1099-K tax forms if they used any payment platform on which they had at least $5,000 in business transactions in ...

  6. How to deduct stock losses from your taxes - AOL

    www.aol.com/finance/deduct-stock-losses-taxes...

    And make sure to categorize your investments as short-term or long-term, so you can accurately report your gains and losses on your tax return. Bottom line. Deducting a stock loss from your tax ...

  7. Tax-loss harvesting: How to turn investment losses into ... - AOL

    www.aol.com/finance/tax-loss-harvesting-turn...

    Tax-loss harvesting is the process of writing off the losses on your investments in order to claim a tax deduction against your ordinary income. To claim a loss on your current year’s taxes, you ...

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