Passive Activities In January 2022, Julie started some web-based activities. She started selling...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Passive Activities
In January Julie started some webbased activities. She started selling hand drawn caricature drawings on Etsy and eBay using photos provided by customers In addition, she started making some money as her Instagram and TikTok drawings and videos have gained thousands of followers. Julie spends about hours per week making and selling drawings plus another hours on social media activities.
a Under the regulations, how many activities does Julie have? Explain. If she has more than one option, explain them all and the pros and cons of each.
b Assume in that Juie pays contractor Henry to help with drawings and send them to the customers. Henry will spend about hours in on this work for Julie. Julie will spend about hours in finding customers. Will Julie be a material participant in Explain.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
