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hobby loss

   Also found in: Financial 0.04 sec.

hobby loss n. in income tax, a loss from a business activity engaged in more for enjoyment than for profit, which can be deducted against annual income only.
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Determine whether the activity is possibly subject to the hobby loss limitations.
Starting a business by Ellentuck, Albert B. / The Tax Adviser
There are several hurdles that the shareholders must face before a loss may be used: hobby loss rules (Sec.
Current developments - eligibility, elections and terminations; ... by Karlinsky, Stewart S. / The Tax Adviser
If clients choose the self-employment route the hobby loss rules may need to be considered when a loss results from the activity.
Hobby or hard work? Don't let the IRS decide by Potter, Mary Ellen / The Tax Adviser
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