Salesman’s Termination Payment Held Not For Goodwill

The Tax Court also denies capital gain treatment but allows business deductions for a taxpayer’s subsequent shooting activity. Recently, the Tax Court ruled that an individual who received income as a nominee of a C corporation was not subject to the hobby loss rules of Sec. 183.

To read the full article in the Journal of Accountancy, click: Salesman’s Termination Payment Held Not For Goodwill.