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**bitymnmictada** · 09-01-2009, 01:23 AM

is this legal and if so, how does it work?

Trust me, it won't work. There are a zillion cases on hobby losses. Basically, folks trying to write off everything from race horses to boats. If you don't manage to turn a profit in two out of every five years, then you have to be able to document that it is pretty much a full time business.

Bottom line: you'd lose.

09-01-2009, 01:23 AM	#25
bitymnmictada Join Date Oct 2005 Posts 479 Senior Member	is this legal and if so, how does it work? Trust me, it won't work. There are a zillion cases on hobby losses. Basically, folks trying to write off everything from race horses to boats. If you don't manage to turn a profit in two out of every five years, then you have to be able to document that it is pretty much a full time business. Bottom line: you'd lose.
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