Bailey, a single individual, was looking for an investment that would give some diversity to her stock portfolio. Her friend, Cedric, suggested that she
Bailey, a single individual, was looking for an investment that would give some diversity to her stock portfolio. Her friend, Cedric, suggested that she acquire some stock in West Corporation. On July 1, 2020, Bailey purchased 80 shares of West Corporation for $80,000. At the time Bailey acquired her stock directly from West Corporation, the corporation had raised a total of $920,000 of paid-in-capital. On June 20, 2022, Bailey sold all of her West stock for $15,000. Bailey also owned stock in a pharmaceutical company that she acquired as an investment on October 1, 2021, at a cost of $50,000. On May 31, 2022, the stock became worthless when the company declared bankruptcy. Determine the difference in the amount of deduction Bailey could take in 2022 if she filed as a single individual versus if she filed as married filing jointly. Round your answer to the nearest dollar, and do not include cents, commas or dollar sign. For example: if the answer is 100 simply write 100, (and NOT $100, $100.00 or 100.00) .
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