An Ohio country club may not deduct losses incurred from nonmember services. The Tax Court ruled that when LosantivilleCountry Club filed its annual Form 990-T, the organization did not show intent to profit from nonmembersales since its nonmember sales did not surpass the direct and indirect costs about those sales and thus it could not apply those losses to negate its taxableinvestment income. Losantiville had claimed losses against investment income earned from 2010 and 2012, resulting in no unrelated business taxableincome (“UBTI”).
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November 28, 2017