Discuss Whether the Following Persons Are Currently Engaged in a Trade

Essay

Discuss whether the following persons are currently engaged in a trade or business:
a.Darlene has expenses related to managing her portfolio of securities. The trading of the securities generates most of her annual income. She generally does not hold securities long-term. She buys and sells continuously. She has no other job.
b.Mark incurs expenses related to investing in stocks and bonds. Mark is a Sociology professor at Indiana University but spends 10-15 hours per week on his investments. Approximately 70% of Mark's annual income come from his investments as dividends and interest.
c.Paul leases real estate to Floyd's Barber Shop for a parking lot. The only expense he incurs is legal expense regarding the lease, which he renegotiates annually.
d.Mandy owns several rental apartments. She arranges for repairs and maintenance, pays for the expenses related to the properties, and handles all leasing activities.