- 12 - facts and circumstances, we find that personal pleasure is not a motive in petitioners' horse activities. After reviewing the entire record, we conclude that petitioners engaged in their horse breeding and horse racing activities with the primary purpose and dominant intent of making profit within the meaning of section 183. To reflect the foregoing, Decision will be entered for petitioners.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12
Last modified: May 25, 2011