Change Capital Partners Fund I, LLC v. Volt Electrical Systems, LLC

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that a series of substantial losses suggests the lack of a profit motive
• horsebreeding activity may be engaged in for profit despite consistent losses during the startup phase
• “[I]t is sufficient if the taxpayer has a bona fide expectation of realizing a profit, regardless of the reasonableness of such expectation.”
• “[T]he keeping of books and records may represent nothing more than a conscious attention to detail * * * [unless the taxpayer] show[s] that she used them to im- prove the operation of the enterprise.”
• “[T]he keeping of books and records may represent nothing more than a conscious attention to detail * * * [unless the taxpayer] show[s] that she used them to im- prove the operation of the enterprise.”
• “[T]he keeping of books and records may represent nothing more than a conscious attention to detail * * * [unless the taxpayer] show[s] that she used them to im- prove the operation of the enterprise.”

Source: CourtListener parenthetical corpus (CC0).