On May $9,2021,$ Calvin acquired $250$ shares of stock in Hobbes Corporation, a new startup company, for $$68,750.$ Calvin acquired the stock

directly from Hobbes, 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 $15,2023,$ Calvin sold all of his Hobbes stock for $$7,000.$

Assuming that Calvin is single, determine his tax consequences as a result of this sale.

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:

EX$\mathrm{.}07-24$

Exercise $7-24($LO$.4)$

Determine the treatment of a loss on rental property under the following facts:

The amount of the loss is $

which is