Losantiville Country Club v. CIR
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October 15, 2018
6th Circ. Rejects Country Club's Event Losses As Tax Offset
The Sixth Circuit on Monday rejected an Ohio country club's bid to offset tax on about $45,000 in investment income with losses incurred for nonmember events, saying the events were not conducted with a reasonable expectation of making a profit.
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May 04, 2018
See 'Profit Motive' In Losses, Ohio Country Club Asks 6th Circ.
A country club in Ohio asked the Sixth Circuit Thursday to view the losses it incurred for nonmember services as part of profit-oriented activity so those claims could offset investment income earned in previous tax years.