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Business & farm
No. Your business does not qualify under QBI rules. Since you have no intentions of making a profit, the IRS defines your activity as a hobby and not a business.
The IRS states, "a hobby is any activity that a person pursues because they enjoy it and with no intention of making a profit. People operate a business with the intention of making a profit."
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‎April 16, 2023
5:35 PM