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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15443
Experience:  15years with H & R Block. Divisional leader, Instructor
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are SEC disgorgements of profits and the interest tax dedu

Resolved Question:

are SEC disgorgements of profits and the interest tax deductible?
Submitted: 5 years ago.
Category: Tax
Expert:  Robin D. replied 5 years ago.

Robin D :

Hello and thank you for using Just Answer

Robin D :

Fines and penalties are not allowed as a deduction. Subchapter A, Sec. 1.162-21 of the Tax Code deals with this subject. It will depend on how the agreement is worded. If there are punitive damages due to the ruling then they would be under penalty and not deductible.

Robin D :

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