Subchapter S Corporation Hobby Loss Rules
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| Subchapter S
corporations are subject to the hobby loss rules [Reg. §1.183-1(f)]. The
rules are applied at the corporate level. Income from an activity not
engaged in for profit should be reported separately by the Subchapter
S corporation
on line 6 of Schedules K and K-1. Related expenses should be grouped by
category and reported separately by the Subchapter S corporation on line 10 of
Schedules K and K-1. Attach an explanation to Schedule K-1. |
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