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NOTES 871 Tax Lawyer, Vol. 55, No. 3 NOTE RACING WITHOUT A PROFIT OBJECTIVE AND CRASHING INTO SECTION 183: ZIDAR V. COMMISSIONER In Zidar v. Commissioner,1 a taxpayer who spent in excess of $100,000 to build a stock car for the American Speed Association’s 1992 racing season, obtained only $5,571 in sponsorship money, and destroyed the car in the first race was found to lack the required profit objective for purposes of section 183.2 The Tax Court upheld the Commissioner’s disallowance of all...

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