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I believe the facts of the situation point to the conclusion that his is not a hobby, but a legitimate money making venture.Things have just not worked out that...
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Yes. It produced about $8,000 in income but had about $15,000 in expenses. This has been pretty typical the last five years.
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The IRS Stipulates that you can typically claim three consecutive years of farm losses. The IRS considers a farm to be a non-deductible hobby if it doesn't prod...
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The client materially participated in the farm and the investment is at risk.I don't believe a loss can be shown in the fourth year and I don't see a way to ind...
