Steven Hoakison took his federal income tax case to court, where the IRS asserted that

Steven Hoakison was a collector of antique tractors, and

the 40 farm tractors in dispute due to the IRS audit were purchased by Hoakison primarily for personal reasons and served no business purpose.

To push its no-business-purpose position, the IRS noted that 37 of the 40 tractors in dispute were more than 40 years old at the time Hoakison purchased them and that there “is obviously an ... Log in to view full article.