All of the following are true of losses from the sale or worthlessness of small business corporation (Section 1244) stock with the exception of
A) a single taxpayer may deduct, as ordinary losses, up to a maximum of $100,000 per tax year with the remainder treated as capital losses.
B) the stock must have been issued for cash or property other than stock or securities.
C) the stock must be owned by an individual or a partnership.
D) the stock must have been issued by a domestic corporation.
Correct Answer:
Verified
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Q154: Why was Section 1244 enacted by Congress?
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