Research Problem 7. Locate and read a recent judicial or administrative ruling regarding the deductibility of hobby

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Research Problem 7. Locate and read a recent judicial or administrative ruling regarding the deductibility of hobby losses. Look for rulings that deal with horse breeding, professional sports teams, or art collecting activities. Which criteria did the ruling emphasize in upholding or reversing the taxpayer’s deduction for such losses?

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South-Western Federal Taxation 2014 Corporations Partnerships Estates And Trusts

ISBN: 9781285424484

37th Edition

Authors: William H. Hoffman Jr., William A. Raabe, James E. Smith, David M. Maloney, James C. Young

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