[Download] "Mattfeld v. Commissioner Internal Revenue Service" by United States Court of Appeals for the Ninth Circuit " eBook PDF Kindle ePub Free
eBook details
- Title: Mattfeld v. Commissioner Internal Revenue Service
- Author : United States Court of Appeals for the Ninth Circuit
- Release Date : January 07, 1994
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 65 KB
Description
Taxpayer Kenneth Mattfeld ("Mattfeld") appeals the United States Tax Courts decision that he was not entitled to certain deductions on his returns for the taxable years 1986 and 1987, and that he was liable for additions to tax for substantial understatement of tax pursuant to 26 U.S.C. ร§ 6661. The Commissioner of Internal Revenue (the "Commissioner") disallowed losses Mattfeld claimed as a result of his purchase and chartering of a sailboat. We AFFIRM the decision of the tax court, as we find that the court did not clearly err by deciding that Mattfeld did not have an actual and honest profit objective with respect to the purchase of his sailboat. See 26 U.S.C. ร§ 183(c) (Supp. 1993).