Vanessa bought 2,000 shares of Barbco stock when the company was formed for $107,000.The company had $900,000
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Vanessa bought 2,000 shares of Barbco stock when the company was formed for
$107,000.The company had $900,000 of total capital upon formation; thus, it qualified as Section 1244 stock.Vanessa sold the stock three years later for
$3,000. If Vanessa is single, how much and what kind of gain or loss does she have?
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