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
Advanced

Tax Law Change Impact Analysis (Memo)

Researches and interprets how new tax legislation affects a specific business model.

GPT-4oClaude 3.5 Sonnet
0
0
58
Tax
Intermediate

Depreciation book vs tax (MACRS/IFRS) schedule tie-out

Compares book depreciation to tax depreciation, identifies differences, and prepares supporting schedules. Useful for both compliance and provision teams.

GPT-5.2 Thinking; GPT-4.1; o3-mini
0
0
92
Tax
Intermediate

Qualified Business Income (QBI) Deduction Tool

Determines the Section 199A deduction for pass-through entities and SSTBs.

GPT-4oClaude 3.5 Sonnet
0
0
53