Task: A Business Made Possible by eBay. Please respond to the following:
- Evaluate whether or not Ted's activities are a business or a hobby and state how you would know or what you would ask Ted.
- Evaluate on a scale of 1-3, with one being ethical and three being highly unethical, Ted's actions from the perspective of the IRS.
Tax Treatment of Damages Not Related to Physical Personal Injury. Please respond to the following:
- Take a position on the following statement and defend your position with evidence and / or examples: Damages awarded for a physical personal injury or sickness should be treated more favorably than damages awarded for emotional distress or other nonphysical personal injuries.