Company: CLM
Filing Date: 2025-02-21
Form Type: N-2
Source: 0001398344-25-003234
Chunk: 108

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-02-21
Form: N-2
Chunk 108
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 AND THE EFFECT OF POSSIBLE CHANGES IN TAX LAWS, INCLUDING COMPREHENSIVE UNITED STATES FEDERAL INCOME TAX REFORM CURRENTLY BEING DISCUSSED BY THE UNITED STATES CONGRESS.

<div align='center'>B-17</div>

The discussion primarily describes
the U.S. federal income tax treatment of a U.S. Holder and, unless expressly provided, does not discuss the application of these rules
to a Non-U.S. Holder. A “U.S. Holder” means a beneficial owner of the Fund’s shares that is any of the following for
U.S. federal income tax purposes:

| ● | An individual                                                                                                                
 who is a citizen or resident of the United States or someone treated as a U.S. citizen for U.S. federal income tax purposes; |

| ● | A corporation (or other entity taxable as a corporation for U.S. federal income tax purposes) created or organized in or under the laws of the United States, any state thereof, or the District of Columbia; |

| ● | An estate, the income of which is subject to U.S. federal income taxation regardless of its source; or |

For purposes of this summary, the term “Non-U.S.
Holder” means a beneficial owner of the Fund’s shares that is not a U.S. Holder.

In addition, the possible application of U.S.
federal estate or gift taxes or any aspect of state, local, or non-U.S. tax laws is not considered. This summary does not address all
aspects of U.S. federal income taxation that may be important to a particular U.S. Holder in light of its investment or tax circumstances
or to a U.S. Holder that is subject to special tax rules, including if the Stockholder is:

| ● | a dealer in securities or currencies; |

| ● | a financial institution; |

| ● | a regulated investment company; |

| ● | a real estate investment trust; |

| ● | an insurance company; |

| ● | a tax-exempt organization; |

| ● | a person holding shares as part of a hedging, integrated or conversion transaction, a constructive sale or a straddle; |

| ● | a trader in securities that has elected the mark-to-market method of accounting for its securities; |

| ● | a person liable for alternative minimum tax; |

| ● | a partnership or other pass-through entity for U.S. federal income tax purposes; or |

| ● | a U.S. Holder whose “functional