36. LO.1, 7 Assume in Problem 34 that Julio takes a capital loss carryover of $50,000 into the current tax year. Julio records no other capital gain transactions during the year. What amount of the capital loss may Julio deduct in the current year in the following situations?

a. The payment from Gray Corporation is a qualifying stock redemption for tax purposes.

b. The payment from Gray is a nonqualified stock redemption for tax purposes.

c. If Julio had the flexibility to structure the transaction as described in either part

(a) or (b), which form would he choose?