Opal's neighbor, Jilian, persuades her to invest in Schaake Corporation, a new venture, on March 4, 2015.

Question:

Opal's neighbor, Jilian, persuades her to invest in Schaake a new venture, on March 4, 2015. Opal pays $15,000 for 3,000 shares of common stock. On February 6, 2016, Schaake declares bankruptcy and closes its doors forever. Opal never receives a return on her investment or a reimbursement of her original investment. What are the tax consequences to Opal?
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...