BobKamman
Level 15
03-13-2020
10:48 PM
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IRS doesn't have a policy of allowing a free bite of the Schedule D appetizer before moving on to the Schedule C dinner. If his story is that he really considered it an investment opportunity and only decided later to make it a business, that's fine. If you want to coach him to say something else, remember what Shakespeare didn't say (it was Walter Scott)
Oh what a tangled web we weave. When first we practice to deceive.