Home / Questions / On July 20 2015Brad who files a joint returnpurchased 3000 shares of Purple Corporation st...
On July 20, 2015, Brad (who files a joint return) purchased 3,000 shares of Purple Corporation stock (the stock is 1244 small business stock) for $24,000. On November 10, 2015, Brad purchased an additional 1,000 shares of Purple Corporation stock from a friend. Brad sold the 4,000 shares of stock for $120,000. How should Brad treat the sale of the stock on his 2016 return? $54,000 ordinary loss. $100,000 ordinary loss; $46,000 net capital gain. $100,000 ordinary loss; $20,000 STCL. $130,000 ordinary loss; $66,000 LTCG. None of the above.
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