This will be the 3rd year in a row that my business is
operating at a loss. My business is horse training. I purchased a horse 2 years
ago as an investment, knowing I will be training it for a few years before it
will be ready to be sold for profit. So far 2 years I have claimed the loss,
with the intent to claim this 3rd year at a loss aswell. How many more years do
I have to claim a loss before it could be considered a hobbie/ Audit? I heard
that for horse training you have to show profit in 2 out of 7 years.. does that
mean I can show a loss 5 years in a row- at worst case scenerio before a
profit?"
