Your records could make — or break — your tax deductions
$225.00
Description
Abstract: A recent decision by the U.S. Tax Court included both good and bad outcomes for a married couple’s real estate activities and some of their deductions. On both counts, though, the court’s ruling came down to their record keeping. This article highlights the importance of record keeping for all real estate transactions, and a sidebar discusses the possibility of penalties due to poor record keeping. Moon v. Comm’r, T.C. Summ. 2016-23, May 23, 2016 (Tax Ct.)
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