Trade Determination – NBC Institute

TAX – Nov 2018 – L2 – SC – Q6b – Taxation of Partnerships and Sole Proprietorships

List six considerations used to determine whether an activity constitutes a trade.

Question

The difficulty in determining what constitutes a trade has led to many litigations and numerous tax cases on the issue. The problem from decided cases is that of finding an absolute test for identifying a trade. The conclusion has always been that there are no fixed rules, but that each case must be determined on its own facts.

Required:
State six considerations that influence the determination of when an activity constitutes a trade.

Answer

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Tags: Business Activity, Tax Cases, Trade Definition, Trade Determination
Level: Level 2

Topic: Taxation of Partnerships and Sole Proprietorships
Series: NOV 2018

Question Tag: Trade Determination

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TAX – Nov 2018 – L2 – SC – Q6b – Taxation of Partnerships and Sole Proprietorships

List six considerations used to determine whether an activity constitutes a trade.

TAX – Nov 2018 – L2 – SC – Q6b – Taxation of Partnerships and Sole Proprietorships

List six considerations used to determine whether an activity constitutes a trade.

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Question Tag: Trade Determination

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TAX – Nov 2018 – L2 – SC – Q6b – Taxation of Partnerships and Sole Proprietorships

List six considerations used to determine whether an activity constitutes a trade.

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TAX – Nov 2018 – L2 – SC – Q6b – Taxation of Partnerships and Sole Proprietorships

List six considerations used to determine whether an activity constitutes a trade.

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