Is My Expression Activity a Trade or Business?

Guess what? Federal income tax law and related regulations don't define what "trade or business" means. Surprised? You shouldn't be. I told you there was plenty of mystery in taxation. Ambiguity, it seems, is intentional. Some wit compared an income tax return to a girdle. You put the wrong figure in it and you can get pinched.


Tests to check if a trade or business exists stem mostly from court opinions (primarily from the United States Tax Court or from appeals made from those decisions ). Co...