Rex has generated $150,000 of AGI this year due to salary,interest income and dividends.Rex is a single taxpayer.He plans to sell his shares of Trisco Inc.,a qualifying small business corporation under Sec.1244,realizing a $110,000 loss.Rex has not sold any other investment assets this year.Due to the sale of the Trisco stock,he will reduce his AGI by
A)$3,000.
B)$110,000.
C)$50,000.
D)$53,000.

Question

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The Answer of Rex has generated $150,000 of AGI this year due to salary,interest income and dividends.Rex is a single taxpayer.He plans to sell his shares of Trisco Inc.,a qualifying small business corporation under Sec.1244,realizing a $110,000 loss.Rex has not sold any other investment assets this year.Due to the sale of the Trisco stock,he will reduce his AGI by
A)$3,000.
B)$110,000.
C)$50,000.
D)$53,000.

Rex Has Generated $150,000 of AGI This Year Due to Salary,interest