The National Association of Tax Professionals

The National Association of Tax Professionals

Activities Not Engaged In For Profit

  • Topic(s): Advanced, Intermediate
  • Presenter(s): Greg Dangar EA, ATP, ATA, IAR
  • Session#: 930-03
  • Session Length: 100 Minutes
  • Program: 2010 National Conference
  • Date: Jul 20, 2010
Product Name Price
AudioPoint MP4 (download)
$24.95
Audio MP3 (download)
$15.95

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Activities Not Engaged In For Profit - Details:

A number of taxpayers who have significant income from other sources reduce their taxable income by reporting losses from activities that may or may not be engaged in for profit. It is up to the IRS examiners to make a factual determination whether an activity is engaged in for profit. This includes Schedules C, E, and F. Taxpayers bear the burden of proving that they engaged in the activity with an actual and honest objective of realizing a profit. You will not want to miss this class as it will cover the techniques that examiners use during an audit.