This year, Jack O. Lantern incurred a $65,250 loss on the worthlessness of his stock in the Creepy Corporation (CC). The stock, which Jack purchased in 2005, met all of the 1244 stock requirements at the time of issue. In December of this year, Jack's wife, Jill, also incurred a $84,400 loss on the sale of Eerie Corporation (EC) stock that she purchased in July 2005 and that also satisfied all of the 1244 stock requirements at the time of issue. Both corporations are operating companies. Assume that they file a joint return. Problem 19-44 Part c (Algo) c. What would be the tax treatment for the losses if Jack and Jill reported only $69,250 of taxable income this year, excluding the securities transactions? Answer is complete but not entirely correct. Total loss deductible $ 69,250 Ordinary loss carryover $ 40,650 Capital loss carryover $ 34,750 x