Identify the best choice for the type of recognized losses for the following tax related transactions.

Some terms maybe used more than once or not at all.

Ordinary loss

Long-term capital loss

Short-term capital loss

Sec. 1231 loss

Sec. 1244 loss

Passive loss

Casualty and Theft Losses

Jim Baker church is claiming $5,000 loss on his tax form for of electronic stolen during a Hurricane Katrina. Hurricane Katrina was declared a federal disaster.

Mark, a taxpayer lost his home in Louisiana during a Hurricane Katrina. Hurricane Katrina was declared a federal disaster. Mark is reporting $250,000 loss on his home on his tax form

Lily owns 100 shares of Cronco Inc. which she purchased on December 1 of last year for $10,000. The stock is not Sec. 1244 stock. On July 1 of the current year, Lily receives notice from the bankruptcy court that Cronco Inc. has been liquidated, and there are no assets remaining for shareholders. As a result, Lily will have

Losses by individuals and partnerships when they sell stock in small new enterprises that suffer reductions in stock equity value

Juan has a casualty loss of $32,500 on investment property after receiving an insurance settlement. This is Juan's only casualty transaction this year. Juan's loss is

Bryant Corporation acquired 90% of the stock of Beta Corporation three years ago. Both corporations are located in the United States. Beta has been an energy drink producer, but unfortunately has suffered substantial losses due to government fines and lawsuits. All of its revenues had been from the sales of the energy drinks. Beta has now filed for bankruptcy and is closing the business with no assets remaining for shareholders. Bryant Corporation will recognize

The destruction of a capital asset due to a casualty will result in recognition of

Mark, a taxpayer lost his home in Louisiana during a Hurricane Katrina. Hurricane Katrina was declared a federal disaster

Individuals who actively participate in the management of rental real property may deduct up to $25,000 in losses, subject to AGI limitations

Jamie sells investment real estate for $80,000, resulting in a $15,000 loss. Jamie's loss is

Erin, a single taxpayer, has 1,000 shares of 1244 stock she purchased directly from AAA Corporation for $120,000 five years ago. The stock has a FMV of $30,000, and Erin sell the stock for $30,000

Jim Baker church was broken into and electronic stolen during a Hurricane Katrina. Hurricane Katrina was declared a federal disaster