Scott A. Householder & Debra A. Householder v. Commissioner

T.C. Memo. 2018-136

UNITED STATES TAX COURT SCOTT A. HOUSEHOLDER AND DEBRA A. HOUSEHOLDER, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket Nos. 19150-10, 6541-12. Filed August 23, 2018. Kacie N.C. Dillon and Tim Alan Tarter, for petitioners. Michael R. Harrel, Doreen Marie Susi, John R. Gordon, and Brandon Keim, for respondent. MEMORANDUM FINDINGS OF FACT AND OPINION HOLMES, Judge: Scott and Debra Householder deducted $1.3 million in losses for amounts they paid to ClassicStar, a horse-leasing operation that turned out to be a scam. They say they should still get the losses…