Follow Criteria for Operating Farm as a Business

Follow Criteria for Operating Farm as a Business

John Alan Cohan, Attorney at Law

Cattle Today

In hobby loss audits, the IRS sometimes views various types of ranching activities as a means of generating tax losses, rather than a profit-oriented venture. That was the issue in the Tax Court case, Ralph Wesinger, Jr., v. Commissioner of Internal Revenue [T.C. Memo 1999-372].

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