Question
Compute the following regarding business and nonbusiness bad debts. On May 9, 2014, Calvin acquired 250 shares of stock in Aero Corporation, a new startup
Compute the following regarding business and nonbusiness bad debts. On May 9, 2014, Calvin acquired 250 shares of stock in Aero Corporation, 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 corporation had $900,000 of paid-in capital). On January 15, 2016, Calvin sold all of his Aero stock for $7,000. Assume that Calvin is single. If an amount is zero, enter "0". As a result of the sale, Calvin has:
Ordinary loss: $
Short-term capital loss: $
Long-term capital loss: $
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