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That's a big number
August 20, 2009
In the first test of the "Distressed asset/Debt," or "DAD," tax shelter, a U.S. District Court in Texas Tuesday disallowed $1.1 billion in tax losses claimed by #321 in the Forbes 400 list of rich folks. The TaxProf has the scoop.
Related: Notice 2008-34, Distressed ASset Trust (DAT) Transactions
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