Lance Armstrong and the Race for Deductibility

Brunson, Samuel

doi:10.2139/ssrn.2167120

Abstract

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Lance Armstrong and the Race for Deductibility

Samuel D. Brunson

Loyola University Chicago School of Law

October 25, 2012

Loyola University Chicago School of Law Research Paper No. 2013-010

Abstract:
As a result of the doping scandal, Lance Armstrong has been stripped of his seven Tour de France wins. In addition to being erased from the recordbooks, Armstrong will have to return up to $16 million in purses and bonuses he received as a result of his win. In this paper, I discuss the tax consequences to Armstrong of his returning his winnings.

Number of Pages in PDF File: 7

Keywords: Lance Armstrong, doping, claim of right, Tour de France, deduction, section 162, section 1341, Internal Revenue Code, federal income tax, trade or business, repayment

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Date posted: October 26, 2012

Suggested Citation

Brunson, Samuel D., Lance Armstrong and the Race for Deductibility (October 25, 2012). Loyola University Chicago School of Law Research Paper No. 2013-010. Available at SSRN: http://ssrn.com/abstract=2167120 or http://dx.doi.org/10.2139/ssrn.2167120

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Samuel D. Brunson (Contact Author)

Loyola University Chicago School of Law ( email )

25 E. Pearson
Chicago, IL 60611
United States