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Tax Court Rejects Telecom Co.'s $3M Bankruptcy Deductions

By Kat Lucero ( December 8, 2025, 6:29 PM EST) -- A telecommunications company cannot deduct over $3 million as a loss tied to a subsidiary's bankruptcy proceedings, the U.S. Tax Court ruled Monday, holding that the amount must be reported as capitalized expenditures because both businesses share the same owners....

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