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サマリー
あらすじ・解説
The Tax Court refuses to subsidize "poor investment decisions" of the taxpayer.
When Mr. Weston invested $2.1 million of his own life savings into real estate in Indiana that went belly-up, he takes a buckshot approach to try to deduct it.
(1) Business Expense
(2) Business Loss (Worthless)
(3) Theft
All fell on deaf ears of the Court and Mr. Weston got stuck having to delay the deductions as basis or losses in later years.
A great episode on where and how business expenses can and should be deducted. Enjoy!