Show notes
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
An audio version of this week’s broadcast can be streamed or broadcast below.
Articles on this week’s developments can be downloaded below.
