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Taxation & Estate Planning

: TaxProf Blog

Tax Court Treats IRS Auditor's Greyhound Business as a Hobby

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The Tax Court yesterday denied an IRS auditor's claimed $75k loss (over three years) in breeding greyhounds for racing because the actiivity was not engaged in for profit within the meaning of § 183. Whitecavage v. Commissioner, T.C. Memo. 2008-203...

Full post as published by TaxProf Blog on August 28, 2008 (boomark / email).

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