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⚡IMPACT LEVEL 3 — NOTEWORTHY

Epstein File EFTA01356078: Holder (DS10)

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This document discusses tax implications for holders of tax-exempt municipal bonds used as collateral, specifically addressing potential loss of interest deductibility. The excerpt explains the tax consequences that may apply to bond holders under certain circumstances. No specific bond amounts, holders, or dates are identified in the provided excerpt.

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Excerpt 1
Tax-exempt municipal bonds pledged as collateral can cause their **holder** to lose interest deductibility with respect to the interest expense to the extent

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