Taxpayer Appeals Ruling on Business Shared With Late Ex-Spouse

A woman is appealing a Tax Court ruling that she was an active member of a real estate business with her late ex-husband, and must bear some of the tax burdens for it.

Karen Veeraswamy is appealing a September decision from the US Tax Court that determined she was part shareholder of a bankrupt real estate business she had founded with her former husband. Her notice of appeal was docketed Wednesday at the US Court of Appeals for the Second Circuit, where she will contest penalties for the $7.6 million sale of a piece of New York real estate around ...