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Tax Court Rules on Who is a Professional Artist

Where does the line between professional artist and someone who just does some work in their spare time? In a ruling sure to be hailed by artistic professonals everywhere, a tax court has ruled that Susan Crile, an artist whose work has been featured in the Guggenheim and the Met, is indeed a professional artist despite the fact that this trade has rarely earned a profit, according to the New York Times.

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Written by

Herman Yiu, CPA - Audit Taxation Advisory (212) 802-1428