Company: RIV
Filing Date: 2025-09-05
Form Type: N-CSR
Source: 0001398344-25-017710
Chunk: 13

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-05
Form: N-CSR
Chunk 13
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Investment security transactions are accounted for on a trade date basis. Dividend income is recorded on the ex-dividend date. Interest
income, which includes accretion of discounts 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 year ended June 30, 2025, 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