Vanessa bought 2,000 shares of Glenco stock when the company was first formed for $57,000. The company had $900,000 of total capital when formed and the stock qualified as Section 1244 stock. Vanessa sold the stock three years later for $3,000. If Vanessa is single, how much gain or loss does she have on the sale of the stock and how will it be treated by her?© BrainMass Inc. brainmass.com June 3, 2020, 11:33 pm ad1c9bdddf
Under section 1244, losses that would otherwise be treated as capital losses are treated as
ordinary losses. The amount that one can ...
The solution Calculate Vanessa's reportable gain or Loss on sale of Sec 1244 Glenco stock.