Tax Court Denies RV Business Deductions
Hello RV.net Friends, If you are taking business deductions for RV use, you should share this case with your CPA. Tax Court Case Dellward R. Jackson et ux. v. Commissioner; T.C. Memo. 2014-1...
Forum Discussion
When it comes to business tax deductions....just don't get greedy. IN this case, the person tried to deduct more than he paid for the coach and his gross receipts seemed to indicate that the possibility of making a profit were slim to none. You don't spend a quarter million on an RV with the hopes of getting back $14K in insurance sales.
Obviously people start a business with some expectation of making a profit, but in this case the amount earned was so far away from the expenses claimed that I am sure that the courts saw this for what it was.
Obviously people start a business with some expectation of making a profit, but in this case the amount earned was so far away from the expenses claimed that I am sure that the courts saw this for what it was.
