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IRS Ruling Severely Restricts Mutual Fund Investments in Commodity Index Linked Derivatives  


Author:  Stevie D. Conlon.


Source: Volume 23, Number 03, Spring 2006 , pp.202-214(13)




Journal of Taxation of Investments

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Abstract: 

Failure of a RIC to obtain both its dividends paid deduction in computing its taxable income (to avoid entity level tax) and the special tax-character treatment of certain dividends to its shareholders (such as long-term capital gain, tax-exempt interest and currently U.S. withholding tax exempt distributions of portfolio interest and short-term capital gains to eligible non-U.S. persons) could be disastrous.

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