(taxpayer was engaged in the trade or business of managing venture capital funds; taxpayer's bad debt loss proximately related to taxpayer's trade or business and deductible under I.R.C. Sec. 166(a)).
The Center for Agricultural Law and Taxation does not provide legal advice. Any information provided on this website is not intended to be a substitute for legal services from a competent professional. The Center's work is supported by fee-based seminars and generous private gifts. Any opinions, findings, conclusions or recommendations expressed in the material contained on this website do not necessarily reflect the views of Iowa State University.