8 March 1990 T.I. (August 1990 Access Letter, ¶1379)

A corporation doing business in the real estate development field and which holds some parcels of inventory which have not yet been developed will...

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Property is used in an active business if it is used principally with respect to that business and put to risk in the venture. However, engaging...

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Engaging in an adventure in the nature of trade is not ipso facto carrying on a business.