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
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
Date posted: October 26, 2012
© 2015 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo7 in 0.281 seconds