James P. Thomas and Mary Lou Thomas v. Commissioner of Internal Revenue

U.S. Court of Appeals, Fourth Circuit · Decided 1986-06-06

Cited by 171 later decision(s) in our corpus · see the citation network in Lexace

From the opinion

BUTZNER, Senior Circuit Judge: The Tax Court held that the Wise County Mining Program was not organized with the primary objective of making a profit. Therefore, James P. Thomas and Mary Lou Thomas (taxpayers) could not deduct their share of the program’s losses pursuant to I.R.C. §§ 162(a) and 616(a). <a class="footnote" href="…

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