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411, 426 (1979), affd. without published opinion 647 F.2d 170
(9th Cir. 1981).9
Section 1.183-2(b), Income Tax Regs., sets forth a
nonexclusive list of factors to be considered in determining
whether an activity is engaged in for profit. Campbell v.
Commissioner, supra at 836. These factors are: (1) The manner
in which the taxpayer carried on the activity; (2) the expertise
of the taxpayer or his advisers; (3) the time and effort expended
by the taxpayer in carrying on the activity; (4) the expectation
that assets used in the activity may appreciate in value; (5) the
success of the taxpayer in carrying on other similar or
dissimilar activities; (6) the taxpayer's history of income or
loss with respect to the activity; (7) the amount of occasional
profits, if any, which are earned; (8) the financial status of
the taxpayer; and (9) whether elements of personal pleasure or
recreation are involved. As no single factor is controlling, the
facts and circumstances of the case taken as whole are
determinative. Abramson v. Commissioner, 86 T.C. 360, 371
(1986); sec. 1.183-2(b), Income Tax Regs.
As a threshold matter, we must consider Dr. Burrus’s
9 Sec. 7491 is inapplicable in these proceedings; the
parties conceded at trial that the examinations in this case
commenced before July 22, 1998, the statute’s effective date.
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