That’s what an appellate court said to a couple who invested in what turned out to be a tax scheme. Over a number of years, they purchased lenses to generate solar electricity, paying only 30% of the cost; the balance was to come from electricity which was never generated. Their depreciation deductions were disallowed because they lacked a profit motive for the activity. The marketing materials emphasized tax benefits and the purchase price of the items was greatly inflated. #IdeaoftheDay
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