This is no hobby horse. Ann and Mitt Romney classified their Olympic dressage contender, Rafalca, as a business in 2010 (the one income tax-year filing Romney has made public). Of its more than $77,000 in losses, though, the Romneys were only able to take a deduction of $50.
SUBSCRIBE AND FOLLOW
Get top stories and blog posts emailed to me each day. Newsletters may offer personalized content or advertisements.Learn more