Company: RIV
Filing Date: 2025-03-07
Form Type: N-CSRS
Source: 0001398344-25-005090
Chunk: 8

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-03-07
Form: N-CSRS
Chunk 8
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 and amortization of premiums calculated using yield to maturity, is accrued and recorded
as earned. Realized gains and losses from securities transactions and unrealized appreciation and depreciation of securities are determined
using the specific identification method for both financial reporting and tax purposes.

Federal Income Taxes: The Fund makes no provision
for federal income tax. The Fund intends to qualify each year as a “regulated investment company” ("RIC") under
Subchapter M of the Internal Revenue Code of 1986, as amended (the "IRC"). In order to qualify as a RIC, the Fund must, among
other things, satisfy income, asset diversification and distribution requirements. As long as it so qualifies, the Fund will not be subject
to U.S. federal income tax to the extent that it distributes annually its investment company taxable income and its “net capital
gain”. If the Fund retains any investment company taxable income or net capital gain, it will be subject to U.S. federal income
tax on the retained amount at regular corporate tax rates. In addition, if the Fund fails to qualify as a RIC for any taxable year, it
will be subject to U.S. federal income tax on all of its income and gains at regular corporate tax rates.

The Fund recognizes the tax benefits of uncertain
tax positions only where the position is “more likely than not” to be sustained assuming examination by tax authorities. As
of and during the six months ended December 31, 2024, the Fund did not have a liability for any unrecognized tax benefits. The Fund files
U.S. federal, state, and local tax returns as required. The Fund’s tax returns are subject to examination by the relevant tax authorities
until expiration of the applicable statute of limitations which is generally three years after the filing of the tax return for federal
purposes and four years for most state returns. Tax returns for open years have incorporated no uncertain tax positions that require a
provision for income taxes.

Distributions to Shareholders: Distributions
to shareholders, which are paid monthly and determined in accordance with income tax regulations, are recorded on the ex-dividend date.
The treatment for financial reporting purposes of distributions made to shareholders during the year from net investment income or net
realized capital gains may differ from their ultimate treatment for federal income tax purposes. These differences are caused primarily
by differences in the timing of recognition of certain components of income, expense, or realized capital gain for federal income tax
purposes. Where such differences are permanent in nature