United States Eighth Circuit
Keating v. Comm'r of Internal Revenue, 073660, 081266
Tax court decision finding that losses from petitioners' horse-breeding activity were incorrectly deducted on their 1996-2002 income tax returns is affirmed where: 1) a preponderance of the evidence supported the respondent-Commissioner's determination that petitioners' horse activity was not engaged in for profit; 2) the court did not err in concluding that petitioners were liable for tax deficiencies assessed by respondent; and 3) any error in assigning the burden of proof would have been harmless under the circumstances, and there was no basis upon which to remand this matter for further proceedings.
Appellate Information
- Decided 10/14/2008
- Published 10/14/2008
Judges
Court
- United States Eighth Circuit