Carpet throughout (as Minnesota gets frigid in the winter) What was the outcome?

Flipping is more than likely to be considered trade or business.2) Rentals: Rentals are not considered trade or business for this purpose, so initial inventory costs cannot be deducted as travel expenses.

What was the outcome?

So I told the old owner I will trade you the house and landbank the loan..

The gamble is that the outcome hinges upon the courts discretion and it’s rare to see specific performance unless buyer can demonstrate that monetary damages aren’t enough to make them whole.

I would tend to agree with the other CPAs typically.The 500-hour test is one of seven material participation tests used by the IRS to determine if a taxpayer is actively involved in a trade, business, or rental activity. 

What was the outcome?

What was the outcome?

If a person wants a different outcome, they usually do something different.

If you're more of a 'personal referral' person than a 'do research online' person, and this is local to you in Manhattan, KS, hit up one or two of the trades people in the "little apple all stars" BNI group.