Don,
Please provide me with the name of the Supreme Court case that.....

"In 1987, the Supreme Court issued a decision upholding a taxpayer’s claim that his gambling constituted a business. The Court affirmed the findings of the Court of Appeals and the U.S. Tax Court by ruling that the proper test to determine if an activity is a “trade or business” is that the taxpayer must be involved in the activity with regularity and continuity with the primary purpose or expectation of making a profit. To illustrate the scope of this decision, the following quotes from the Court’s opinion are presented:"

I doubt you will be able to find such a Supreme Court Case which leaves one with the impression of what the article is really worth! Forget it!

Thank you,
James L. Perlowski CPA