trade or business
Defined in 2 dictionaries — Case Law, U.S. Code
Definitions from Case Law
From 373 U.S. 193 - Whipple v. Commissioner · 1963Most cited · 937 citing opinions
Devoting one's time and energies to the affairs of a corporation is not of itself, and without more, a trade or business of the person so engaged. Though such activities may produce income, profit or gain in the form of dividends or enhancement in the value of an investment, this return is distinctive to the process of investing and is generated by the successful operation of the corporation's business as distinguished from the trade or business of the taxpayer himself. When the only return is that of an investor, the taxpayer has not satisfied his burden of demonstrating that he is engaged in a trade or business since investing is not a trade or business
United States Code
26 U.S.C. § 469 — for purposes of this section
For purposes of paragraph (1)(A), the term “trade or business” includes any activity involving research or experimentation (within the meaning of section 174).
26 U.S.C. § 469 — for purposes of this section
To the extent provided in regulations, for purposes of paragraph (1)(A), the term “trade or business” includes—
(A) any activity in connection with a trade or business, or
(B) any activity with respect to which expenses are allowable as a deduction under section 212.
26 U.S.C. § 513 — for purposes of this section
For purposes of this section, the term “trade or business” includes any activity which is carried on for the production of income from the sale of goods or the performance of services. For purposes of the preceding sentence, an activity does not lose identity as a trade or business merely because it is carried on within a larger aggregate of similar activities or within a larger complex of other endeavors which may, or may not, be related to the exempt purposes of the organization. Where an activity carried on for profit constitutes an unrelated trade or business, no part of such trade or business shall be excluded from such classification merely because it does not result in profit.
26 U.S.C. § 7701 — in this title
The term “trade or business” includes the performance of the functions of a public office.
26 U.S.C. § 772 — for purposes of this section
For purposes of the preceding sentence, the term “trade or business” includes any activity treated as a trade or business under paragraph (5) or (6) of section 469(c).