Written by Reed Tinsley |
April 9, 2008
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 the Author
Reed Tinsley CPA
This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on
accounting & tax,
practice management, and
financial planning.
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