To be eligible for business deductions, your business must make a profit in any years of a -year period. a. 2,4 b. 3,5 c. 2,3 d. 2,5
This completes Exam 3 and

To be eligible for business deductions, your business must make a profit in any years of a -year period.

b. 3,5

Explanation:

The IRS safe harbor rule states that a business must make a profit in 3 out of 5 consecutive years to be regarded as a business that is established for profit-making motive.  This implies that if profits are not made in 3 of 5 consecutive years, IRS will not presume that the entity is established for profit, thereby affecting the entity's ability to claim business deductions.

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