During the current year, Nancy sells her entire interest in Control Corporation common stock for $15,000. She is the sole shareholder, and originally organized the corporation several years ago by contributing $75,000 in exchange for her stock, which qualifies as Sec. 1244 stock. Since its incorporation, Control has bien involved in the manufacture of items that protect personal computers from static electricity. Unfortunately, this market is extremely competitive, and Control Corporation incurs substantial losses throughout its existence.

Requirement A. Assuming Nancy is single, she will recognize an ordinary loss of?

Requirement B. If Nancy is single, she will recognize a long-term capital loss of?