Advanced

Hobby Loss Rule (Section 183) Defense

Drafts a defense for business losses to prove a profit motive to the IRS.

Draft a defense memo for the {business_activity} activity of {taxpayer_name}, which has shown losses for {consecutive_years} years. Address the 9 factors of Treasury Reg. 1.183-2(b), focusing on: 1. Manner of carrying on activity, 2. Expertise, 3. Time and effort expended, and 4. Expectation of asset appreciation.

Related Prompts

Tax
Intermediate

Estate Tax & Step-Up in Basis Analysis

Calculates the tax benefit of the 'step-up' in basis for inherited assets.

GPT-4oGemini 1.5 Pro
0
0
7
Tax
Beginner

Nonprofit (Form 990) Narrative: Program Service Accomplishments

Drafts the 'Part III' section of the 990 to showcase the organization's mission and impact.

GPT-4oGemini 1.5 Pro
0
0
7
Tax
Intermediate

Apportionment workpaper: factor sourcing rules and tie-outs

Builds an apportionment workpaper template and ties factor data back to GL/subledgers. Useful for defensible SALT filings and audit readiness.

GPT-5.2 Thinking; GPT-4.1; o3-mini
0
0
19