Your client, glenn, has filed a joiint return, and his spouse reported a loss of Section 1244 stock, which she held as her separate property. glenn wants to know the tax consequences of his spouse's stock loss. you would explain to him that:

1. her loss will be treated as a capital loss
2. her loss will be limited to $50,000
3. her loss will be treated as ordinary loss and limited to $100,000
4. her loss will be treated as a personal loss