9th Circ. Backs Denial Of Biz Owner's Bad Debt Deduction

By Anna Scott Farrell · June 5, 2025, 5:15 PM EDT

A businessman cannot take a worthless debt deduction for millions of dollars he transferred between his companies and said were loans, the Ninth Circuit said Thursday, affirming a U.S. Tax Court...

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Documents

Case Information

Case Title

Michael Kelly v. CIR

Case Number

23-70040

Court

Appellate - 9th Circuit

Nature of Suit

agency 

Date Filed

March 08, 2023