Amy, a single individual and sole shareholder of Brown Corporation, sold all of the Brown stock for $30,000. Amy's stock basis was $150,000. She had owned the stock for 3 years. Brown Corporation meets the Section 1244 requirements. Amy has

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Under Section 1244, Amy can deduct up to $50,000 of her loss as an ordinary loss. The remaining $70,000 is treated as a long-term capital loss (LTCL).

Amy, a Single Individual and Sole Shareholder of Brown Corporation