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Get your taxes done using TurboTax
The original question and the further clarification I provided asks to assume that the business is legitimate (based on the IRS definition). The question is not how to or an ask for help to assess if a business is legitimate: there is plenty of information about that. The question is specifically about expense classification under the assumption that the business is legitimate. To make it easy, you can also assume that the business is profitable. If you know the answer, please help.
May 2, 2021
4:50 PM