Ed Zollars' Tax Update Podcast

The issue of what is a capital asset is looked at in the Ninth Circuit's decision in Trantina v. United States, 2008 TNT 7-8.  In this case, an insurance agent was arguing that payments received from State Farm should have been taxed to him at capital gain rather than ordinary income rates.  Unfortunately, the United States District Court disagreed with the taxpayer, and the Ninth Circuit did so as well.The materials are at available for download at http://www.edzollars.com/2008-01-28_Trantina.pdf .The podcast is sponsored by Leimberg Informaton Services at http://www.leimbergservices.com .