Question: CPA Joe reimburses a client for a $ 75,000 tax liability that is traceable to Joes ineffective tax advice. For fear of increasing his already

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?

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