Bloomberg Tax
Sept. 16, 2019, 8:18 PMUpdated: Sept. 16, 2019, 10:19 PM

Golf-Related Partnership Wrongly Denied $14M in Deductions (1)

Aysha Bagchi
Aysha Bagchi

A Texas limited partnership was wrongly denied the tax deductions for its for-profit activity, the U.S. Tax Court ruled Sept. 16.

The court held that WP Realty was operating a golf course with the objective to make a profit under tax code Section 183. This meant it could deduct $14,335,598 for activities the IRS had found weren’t deductible for tax years 2011 to 2014.

WP Realty is a Texas limited partnership that owns and is the developer of Whispering Pines Golf Club. It was formed by Corbin Robertson, a limited partner who owned 99% interest in the partnership, along ...

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