Article Date:
February 2008


Word Count:
857

 

 

Rental Loss Not Deductible


Carolyn Federson worked for Symantec Corporation and owned and managed nine rental properties during the year at issue before the court.

 

During the trial, Ms. Federson explained to the court that her full-time employment with Symantec, for which she was paid $186,487, consumed only 15 hours of her time each week.

Although the court stated that it did not believe Ms. Federson worked only 15 hours a week, it used her claim of hours worked in making its decision. Thus, the court used 780 hours (15 ... Log in to view full article.

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