Rosanna,a single taxpayer,owns 2,000 shares of qualifying small business stock that she purchased for $225,000.During the current year,she sells 800 of the shares for $30,000.If this is the only stock Rosanna sells during the year,what can she deduct as an ordinary and capital loss?
$\begin{array} { l }
& \text { Ordinary loss}& \text { Capital loss}\
a.&\$58,000&\$-0-\
b.&\$50,000&\$3,000\
c.&\$50,000&\$10,000\
d.&\$-0-&\$3,000\
e.&\$-0-&\$60,000\
\end{array}$

Question

Rosanna,a single taxpayer,owns 2,000 shares of qualifying small business stock that she purchased for $225,000.During the current year,she sells 800 of the shares for $30,000.If this is the only stock Rosanna sells during the year,what can she deduct as an ordinary and capital loss?
$\begin{array} { l  }
& \text { Ordinary loss}& \text { Capital loss}\
a.&\$58,000&\$-0-\
b.&\$50,000&\$3,000\
c.&\$50,000&\$10,000\
d.&\$-0-&\$3,000\
e.&\$-0-&\$60,000\
\end{array}$

Quizplus · Accepted Answer

The Answer of Rosanna,a single taxpayer,owns 2,000 shares of qualifying small business stock that she purchased for $225,000.During the current year,she sells 800 of the shares for $30,000.If this is the only stock Rosanna sells during the year,what can she deduct as an ordinary and capital loss?
$\begin{array} { l  }
& \text { Ordinary loss}& \text { Capital loss}\
a.&\$58,000&\$-0-\
b.&\$50,000&\$3,000\
c.&\$50,000&\$10,000\
d.&\$-0-&\$3,000\
e.&\$-0-&\$60,000\
\end{array}$

Rosanna,a Single Taxpayer,owns 2,000 Shares of Qualifying Small Business Stock