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October 2016 » The Defrauded Investor's Solace
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Melanie E. Migliaccio, JD
In BriefAwareness of Ponzi schemes and other fraudulent investment arrangements has skyrocketed following the Bernie Madoff case and other similar prosecutions. IRC section 165 allows investors to deduct losses from these schemes, but only under certain conditions. The author examines the relevant parts of the tax code, laying out the criteria for inclusion and exclusion and the safe harbor provisions of related IRS guidance.
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