Taxpayers Lose Case on Horse Leasing Venture


By John Alan Cohan, Attorney at Law

 

A new Tax Court case involved $1.3 million in deductions for amounts that Scott and Debra Householder paid to a thoroughbred horse-leasing operation called ClassicStar for leases that turned out to be a scam.  [Householder v. Commissioner, T.C. Memo. 2018-136.]

The operation was a Thoroughbred mare-leasing and breeding program.  The taxpayers leased mares from ClassicStar,



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