This year, Jack O Lantern incurred a $69,750 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 $82,500 loss on the sale of Eerie Corporation (EC) stock that she purchased in July 2005 and that also satisfied all of the 51244 stock requirements at the time of issue. Both corporations are operating companies. Assume that they file a joint return. Required: a. How much of the losses incurred on the two stock sales can Jack and Jill deduct this year, assuming they do not have capital gains in the current or prior years? b. Assuming they did not engage in any other property transactions this year, how much of a net capital loss will carry over to next year for Jack and Jill? c. What would be the tax treatment for the losses if Jack and Jill reported only $65,500 of taxable income this year, excluding the securities transactions? 4 Print eferences securities transactions? Complete this question by entering your answers in the tabs below. Required A Required B Required C Total deductible loss Required B> securities transactions? Complete this question by entering your answers in the tabs below. Required A Required Required C Show less Assuming they did not engage in any other property transactions this year, how much of a net capital loss will carry over to next year for Jack and Jill? Capital loss carryover Complete this question by entering your answers in the tabs below. Required A Required B Required Q Show less & What would be the tax treatment for the losses if Jack and Jill reported only $65,500 of taxable income this year, excluding the securities transactions? Total loss deductible Ordinary loss carryover Capital loss carryover