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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. Id.
Before we analyze the nine factors, we note that petitioner
urges us to place the greatest weight on the first three factors
because several periodical articles suggest a correlation between
satisfying the first three factors and the outcome of the case.
The articles conclude that taxpayers who meet the first three
factors generally prevail in their cases and those who do not
meet any of the first three factors generally lose. We fail to
see the correlation and are not bound by the conclusions in the
articles. No factor or set of factors is controlling, nor is the
existence of a majority of factors favoring or disfavoring a
profit objective necessarily controlling. Hendricks v.
Commissioner, 32 F.3d 94, 98 (4th Cir. 1994), affg. T.C. Memo.
1993-396; Brannen v. Commissioner, 722 F.2d 695, 704 (11th Cir.
1984), affg. 78 T.C. 471 (1982); sec. 1.183-2(b), Income Tax
Regs. The individual facts and circumstances of each case are
the primary test. Abramson v. Commissioner, 86 T.C. 360, 371
(1986).
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