United States Eighth Circuit

Funds plaintiffs loaned to two of their family-owned S corporations were neither "actual economic outlays" nor "at risk." Thus, the tax court properly held that plaintiffs were not entitled to claim tax deductions related to the loans.

Appellate Information

• Decided 02/12/2004
• Published 02/12/2004

Judges

• WOLLMAN, Circuit Judge., Before LOKEN, Chief Judge, WOLLMAN, and HANSEN, Circuit Judges.

Court

• United States Eighth Circuit

Counsel

• For Appellant:
  
• Myron L. Frans, Minneapolis, MN, argued, for appellant.


• For Appellees:
  
• Andrea R. Tebbets, Dept. of Justice, argued, Washington, DC (Teresa E. McLaughlen, on the brief), for appellee.