Ira,a calendar year taxpayer,purchases as an investment stock in Redbird Corporation on November 2,2009.On February 1,2010,Redbird Corporation is declared bankrupt,and Ira's stock becomes worthless.Presuming § 1244 (stock in a small business corporation)does not apply,Ira has a short-term capital loss for 2010.

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The Answer of Ira,a calendar year taxpayer,purchases as an investment stock in Redbird Corporation on November 2,2009.On February 1,2010,Redbird Corporation is declared bankrupt,and Ira's stock becomes worthless.Presuming § 1244 (stock in a small business corporation)does not apply,Ira has a short-term capital loss for 2010.

Ira,a Calendar Year Taxpayer,purchases as an Investment Stock in Redbird