On May 9, 2015, Calvin acquired 250 shares of stock in Aero Corporation, a new startup company,

Question:

On May 9, 2015, Calvin acquired 250 shares of stock in Aero a new startup company, for $68,750. Calvin acquired the stock directly from Aero, and it is classified as § 1244 stock (at the time Calvin acquired his stock, the had $900,000 of paid-in capital). On January 15, 2017, Calvin sold all of his Aero stock for $7,000. Assuming that Calvin is single, determine his tax consequences as a result of this sale?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...