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posted ago by MAG768720 ago by MAG768720 +21 / -0

Are you engaged in a trade or business?

If so, do you KNOW what the legal definition of a "trade or business" is in the law?

You can find it in the tax code at 26 USC 7701(a)(26):

The term “trade or business” includes the performance of the functions of a public office.

There is NO OTHER definition of this term anywhere in the tax code.

FYI.