Before consideration of stock sales, Rex has generated $150,000 of AGI this year due to...
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Accounting
Before consideration of stock sales, Rex has generated $150,000 of AGI this year due to salary, interest income and dividends. Rex is a single taxpayer. He plans to sell his shares of Trisco Inc., a qualifying small business corporation under Sec. 1244, realizing a $110,000 loss. Due to the sale of the stock, he will reduce his AGI by
A) $53,000. B) $3,000. C) $50,000. D) $110,000.
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