Under Internal Revenue Code Section 183, business tax deductions are disallowed for any activity that is “not engaged in for profit.” Better known as the “hobby loss provision,” Section 183 states that an activity is for profit if it is... Mike D'Avolio, CPA, JD
Mike D’Avolio, CPA, JD, is a tax law specialist for Intuit® ProConnect™, where he has worked since 1987. He monitors legislative and regulatory activity, serves as a government liaison, circulates information to employees and customers, analyzes and tests software, trains employees and customers, and serves as a public relations representative.
