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(Nousaine) wrote in message
...
(John Atkinson) wrote:
It's a subjective judgment on the part of the IRS. Earn $1000 and
deduct $1000 and the IRS will judge it a hobby. Earn $100k and deduct
the same $1k and the IRS will have no problem with it being a business.
The dividing line lies somewhere in the middle. :-)

This is a bit of an oversimplification as well. $100k in gross receipts is
not 'earnings.'

My apologies for confusing you Tom. My statement was meant to be humorous,
hence the smiley.

John Atkinson
Editor, Stereophile