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intensive horse activity, this is not sufficient to cause the
activity to be classified as not engaged in for profit if the
activity is, in fact, engaged in for profit as evidenced by other
factors. Sec. 1.183-2(b)(9), Income Tax Regs. Accordingly, we
find that this factor weighs in petitioner's favor.
Having considered the facts and circumstances of this case,
we conclude that, during the years at issue, petitioner engaged
in his horse activity with an actual and honest objective of
making a profit.
To reflect the foregoing,
Decision will be
entered under Rule 155.
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Last modified: May 25, 2011