Tax
8/11/2009 3:23:45 PM EST
LexisNexis® Tax Law Center Podcast Jeff Toberer of Stinson Morrison Hecker LLP on the U.S. Tax Court decision in Garnett and passive investment presumption
On this edition, Jeff Toberer analyzes Garnett v. Comm'r, a U.S. Tax Court case challenging the established IRS position on passive loss rules. Mr. Toberer discusses the passive investment presumption, how the presumption applies or should not apply to certain taxpayer interests, and how the presumption's validity turns on key facts and circumstances related to the taxpayer's material participation. Copyright© 2009 LexisNexis, a division of Reed Elsevier Inc.
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