I appreciate all of the helpful responses. Here is the IRS Section 183, Activities Not Engaged in for Profit Audit Technique Guide for reference on how multiple activities are treated.
IV. Special Considerations > A. Multiple Activities
- The degree of organizational and economic interrelationship of various activities.
- The business purpose which is served by carrying on the various activities separately or together in a trade or business or in an investment setting.
- The similarity of various activities.
