Duck file for bankruptcy and uses all its assets to pay its creditors in the current year. What are the amount and character of each shareholder's loss?AC332

U. c. How would your answer to Part a change if Tom and Vicki had purchased their stock for $75,000 each at the time Guest was formed? Worthless Stock. Duck Corporation is owned equally by Harry, Susan, and Big Corporation. Harry and Susan are single. Eight years ago, Harry, Tom, and Big, the origi- nal investors in Duck, each paid $125,000 for their Duck stock. Susan purchased her stock from Tom five years ago for $175,000. No adjustments to basis occur after the stock acquisition date. Duck encounters financial difficulties as a result of a lawsuit brought by a customer who suffered personal injuries from using a defective product. Duck files for