Accounting and Tax Services
Apr 09

Physician Not Allowed to Claim Passive Activity Losses

The Tax Court, in a summary opinion, has held that a physician is not entitled to deduct suspended passive activity losses resulting from the sale of rental property, because he failed to provide proof of the losses and he is not allowed to raise claims to other passive activity losses for the first time on brief.

Citations: Rodolfo C. Uy v. Commissioner; T.C. Summ. Op. 2008-36; No. 24177-05S

Date: Apr. 8, 2008

Email me at reedt@rtacpa.com if you want a complete copy of this case or ask your CPA.

About Reed Tinsley, CPA

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