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Billy Barker, a married taxpayer, has basis in IRC 1244 stock of $120,000.Billy sells the stock for $50,000.What is his gain or loss? How much

Billy Barker, a married taxpayer, has basis in IRC 1244 stock of $120,000.Billy sells the stock for $50,000.What is his gain or loss? How much is ordinary? How much is capital?

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