Treasury Regulation 1.183-2 is a Treasury Regulation in the United States, outlining the taxes owed from income deriving from non-business, non-investment activity. Expenses relating to for profit activities, such as business and investment activities, are generally tax deductible under sections 162 and 212, respectively, of the Internal Revenue Code. However, expenses relating to not for profit activities, such as hobbies, are generally not tax deductible.
Read more about Treasury Regulation 1.183-2: Treasury Regulation § 1.183-2, Hobby Activities, Other Considerations: The Prieto Case, See Also
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