Article Date:
October 2007
Word Count:
327
Court Declares $68,796 Rental Loss Passive
Paul and Wanda Harmon claimed a $68,796 rental loss on their rental property in Oakland, California. They lost this deduction the easy way: they had no records to prove time spent.
In a document presented to the court, Wanda had taken information from her Palm Pilot and entered it on calendar pages. She also completed a summary. The court found it strange that she put forth a big effort to make a handwritten summary from the Palm Pilot when she simply ... Log in to view full article.
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