The National Directory of Certified Public Accountants

Ask A CPA - Ponzi Scheme Losses

Ponzi Loss Recovery - Calculation

Under a provision of law known as the tax benefit rule, a taxpayer must include in income the recovery of any amount deducted in a prior taxable year to the extent the prior year’s deduction reduced the taxpayer’s tax liability for that year (or created a net operating loss carryback or carryover

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