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Compute the following regarding business and nonbusiness bad debts. On May 9, 2014, Calvin acquired 1,000 shares of stock in Aero corporation, a new startup

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Compute the following regarding business and nonbusiness bad debts. On May 9, 2014, Calvin acquired 1,000 shares of stock in Aero corporation, a new startup company, for $140, 300. 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 $14, 030. Assume that Calvin is single. If an amount is zero, enter "o" As a result of the sale, Calvin has: Ordinary loss: $ short-term capital loss: $ Long-term capital loss: $

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