Case: Rental Real Estate, Business Expenses Disallowed Because No Substantiation (T.C. Bench) (IRC §162)

Deficiency arising from the IRS’s adjustment to Taxpayers’ reported taxable income disallowing a rental real estate expense and business-related expenses for depreciation and car and truck expenses sustained as Taxpayers provided no substantiation, the U.S. Tax Court held in a bench opinion posted on the court’s website Jan. 4. [Crogman v. Commissioner, No. 30811-21 (Jan. 4, 2022)]

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