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.
See Also
Crile v. Commissioner
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.