Find a valid tax court case to match the fact pattern evident in the case presented below: 

CPA Joe reimburses a client for a $75,000 tax liability that is traceable to Joe’s ineffective tax advice. For fear of increasing his already steep malpractice insurance premiums, Joe does not file a claim with the insurer. Can Joe deduct the $75,000 loss? 

Answer rating: 100% (QA)

Yes He can deduct the loss Joe isnt required to form a claim under his insurance policy so as to req... View the full answer