James Taylor v. State

How courts have described this case

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

• holding that the mere purchase of property did not constitute an active trade or business since the property was not rented or held out for rent until a subsequent year
• holding that the mere purchase of property did not constitute an active trade or business since the property was not rented or held out for rent until a subsequent year
• concluding that, despite incurring expenses to renovate several cabins, the taxpayer did not have an active cabin - 13 - [ ] rental business until he began offering them for rent and renting them
• holding taxpayers could not deduct expenses incurred while renovating cabins that were not offered for rent until four years later because it was not an active trade or business
• expenses incurred before cabin rental activity became an active trade or business were not deductible
• the underlying circumstance was the spouse's transcript service that produced the omitted income item

Source: CourtListener parenthetical corpus (CC0).