Tax Court Allows Oil And Coal Magnate Over $10M In Golf Course Losses
They do things big in Texas. Apparently, that includes taxpayer Section 183 (hobby loss) victories. The most recent is WP Realty LP in a Tax Court Memorandum decision by Judge Kerrigan. The IRS was seeking to disallow over $14 million in losses for the years 2011 to 2014 from the operation of Whispering Pines Golf Club in Trinity, TX.
Oil Heir Turned Coal Baron
WP Realty LP has a simple…
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