2019 tax law applies

On July 20, 2018, Matt (who files a joint return) purchased 3,000 shares of Orange Corporation stock (the stock is 244 small business stock) for $24,000. On November 10, 2018, Matt purchased an additional 1,000 shares of Orange Corporation stock from a friend for $150,000. On September 15, 2019, Matt sold the 4,000 shares of stock for $120,000. How should Matt treat the sale of the stock on his 2019 return? a. $54,000 ordinary loss. b. $100,000 ordinary loss; $46,000 net capital gain. c. $100,000 ordinary loss; $20,000 STCL d. $130,000 ordinary loss; $66,000 LTCG e. None of these noue In 2019, Grant's personal residence was completely destroyed by fire. He was insured for 100 % of his actual loss, and he received the insurance settlement. Grant had adjusted gross income before considering the casualty item of $30,000. Pertinent data with respect to the residence follows: Cost basis eos $280,000 Value before casualty 250,000 Value after casualty -0- What is Grant's allowable casualty loss deduction? a. $0 b. $6,500 R c. $6,900 d. $10,000 onog ue e. $80,000