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On September 6, 2016, Andrew, who is married, purchased Allstar Corporation stock for $220,000 from the corporation. The Allstar Corporation's stock qualified as Section 1244

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On September 6, 2016, Andrew, who is married, purchased Allstar Corporation stock for $220,000 from the corporation. The Allstar Corporation's stock qualified as Section 1244 stock. On November 20, 2019, Andrew sold the Allstar stock for $100,000. How should Andrew report his realized gain or loss on the sale of the Allstak Corporation stock? a) Andrew realized a $120,000 long term capital loss. Ob) Andrew realized a $50,000 Section 1244 ordinary loss and a $70,000 long term capital loss. Oc) Andrew realized a $100,000 Section 1244 ordinary loss and a $20,000 long term capital loss. d) Andrew realized a $120,000 Section 1244 ordinary loss

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