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Question
Submitted by hlasch on Tue, 2012-04-10 16:33
due on Thu, 2012-04-12 16:59
not answered
hlasch is willing to pay $20.00
hlasch bought 1 out of 1 answered question(s)

Lane Mitchell is a married individual who files a separate return for the taxable year. He is employed full time...

Lane Mitchell is a married individual who files a separate return for the taxable year. He is employed full time as an accountant and also owns an interest in a minor league baseball team. He does no work in connection with the baseball activity and anticipates that it will produce a loss. He pays hos wife to work as an office receptionist inn connection with the activity. Her work requires an average of 20 hours a week. Write a letter to Lane and explain whether he will be allowed to deduct his share of the loss from the activity.