The U.S. Tax Court rules that a married couple isn’t entitled to a carryover loss deduction for purported wage payments made by the husband’s company. The husband claimed that former employees of a TV station where he used to work, and where he started developing a Web platform for artist promotion, came to work for his new LLC. But the court stated the husband had failed to provide any proof as to the number of employees, their job descriptions or the amounts the LLC was obligated to pay them. He also provided no employment-related documents.
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