- hobby losses
- hobby losses pl Verluste mpl aus Liebhaberei
English-german law dictionary. 2013.
English-german law dictionary. 2013.
hobby — UK US /ˈhɒbi/ noun [C] (plural hobbies) ► an activity that someone does for pleasure when they are not working: »It is difficult to claim business losses from what are really hobbies … Financial and business terms
Hobby Loss — A non deductible loss incurred as a result of doing an activity for personal pleasure instead of for profit. A taxpayer cannot deduct the hobby loss as a business loss. A hobby loss rule is used to determine whether an activity is a hobby or a… … Investment dictionary
hobby — An activity not engaged in for profit. The IRC restricts the amount of losses that an individual can deduct with respect to hobby activities so that such transactions cannot be used to offset income from other sources. I.R.C. No. 183. See hobby… … Black's law dictionary
hobby — An activity not engaged in for profit. The IRC restricts the amount of losses that an individual can deduct with respect to hobby activities so that such transactions cannot be used to offset income from other sources. I.R.C. No. 183. See hobby… … Black's law dictionary
Income tax and gambling losses — Rules concerning income tax and gambling losses vary internationally.United KingdomIn the United Kingdom, wins (unless in the course of a trade) are not taxable and losses are not deductible.United StatesIn the United States, gambling wins are… … Wikipedia
Profit Motive — The intent to achieve monetary gain in a transaction or material endeavor. Profit motive can also be construed as the underlying reason why a taxpayer or company participates in business activities of any kind. Profit motive must be determined… … Investment dictionary
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Internal Revenue Code section 183 — Section 183 of the United States Internal Revenue Code (usc|26|183), sometimes referred to as the hobby loss rule , limits the losses that can be deducted from income which are attributable to hobbies and other not for profit activities.… … Wikipedia
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