Requirements for 1244 Stock. During the year, X, who is single, sold stock and realized a loss. For each of the following situations, indicate whether 1244 would apply to the taxpayer's stock loss. Unless otherwise indicated, Code 1244 applies. The stock was that issued to X when she incorporated her business several years . ago. b. The stock was that of General Motors Corporation and was purchased last year. X inherited the stock from her grandfather, who had started the company ten years ago d. X is a corporate taxpayer. X acquired her stock interest in 2009. The other four owners had acquired their interest for $250,000 each in 2004 f. . . The loss was $60,000