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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. Tax avoidance - Wikipedia

    en.wikipedia.org/wiki/Tax_avoidance

    Which means that mere tax advantage cannot be the main business purpose. On the other hand, the substance over form principle is wider than the business rule and it is defined by the OECD as the ‘prevalence of economic or social reality over the literal wording of legal provisions’ (Ostwal, T.P.; Vijayaraghavan, Vikram 2010). [13]

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

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

    www.aol.com/news/2008-04-09-tax-tips-is-it-a...

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  6. Tax deduction - Wikipedia

    en.wikipedia.org/wiki/Tax_deduction

    Form 1040 (individual tax return), Schedules C (business) and E (rental) Form 1065 (partnership return of income), page 1, and Schedule K; Form 1120 (corporation tax return), page 1; Form 2106 (employee business expenses) Form 4562 (depreciation and amortization) Form 4797 (gain or loss on business assets) Form 8825 (rental realty income) India:

  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 ...

  8. Schedule D: How to report your capital gains (or losses) to ...

    www.aol.com/finance/schedule-d-report-capital...

    Schedule D is an IRS tax form that reports your realized gains and losses from capital assets, that is, investments and other business interests. It includes relevant information such as the total ...

  9. Income tax on gambling - Wikipedia

    en.wikipedia.org/wiki/Income_tax_on_gambling

    [4] The Tax Court held that the taxpayer's gambling was a business activity and allowed the deductions. In essence, the court held that Section 165(d) only applies when a taxpayer is at a loss instead of a net gain and “serves to prevent the [taxpayer] from using that loss to offset other income.”