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.

"Get 15% discount on your first 3 orders with us"
Use the following coupon
"FIRST15"

Order Now