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