Current Federal Tax Developments for the week of September 3, 2019: No Horse, No Business
- Tax Court finds that taxpayer did not have a trade or business of raising/showing horses since she didn’t have a horse
- Tax Court rejects IRS’s “step in the shoes” theory for gifted partnership interest with interest from debt-financed distribution received by donor
- IRS accepts court’s revision of IRA beneficiary, surviving spouse allowed to treat IRA as her own
- Coffeehouse was not a §501(c)(3) charitable organization
- Notice of deficiency sent to addresses used on returns found to be sent to last known address
Copyright 2019 Kaplan, Inc.
Direct download:
2019-09-03_No_Horse_No_Business.mp3
Category:
general
-- posted at: 12:28pm EDT
