Summary
Court says artist’s art making is business and IRS expert’s appreciation analysis is unreliable where the expert did not consider factors other than price of previously sold paintings; artist could reasonably expect to make profit despite prior losses.
Crile v. Commissioner
PDF, Size: 191 KB
See Also
Court Rejects Art Market Expert’s Profitability Analysis
Court says artist’s art making is business and IRS expert’s appreciation analysis is unreliable where the expert did not consider factors other than price of previously sold paintings; artist could reasonably expect to make profit despite prior losses.