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NYU tax experts warn CFTC label may not shield event contracts from IRS classification, Prediction News reports
- NYU tax experts warn CFTC label may not shield event contracts from IRS classification, Prediction News reports — Prediction News reported NYU Law tax experts say CFTC-regulated event contracts face federal tax uncertainty, and the CFTC label alone does not guarantee Section 1256 contract treatment with marked-to-market 60/40 capital gains. The experts said traders expecting that treatment could face ordinary income rates instead, with only Treasury guidance or a test case likely to clarify classification. (Prediction News)
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