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During the current year, Sally sold her interest in two small business corporations qualifying as...

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Accounting

During the current year, Sally sold her interest in two small business corporations qualifying as Sec. 1244 stock. Sally realized a $35,000 loss on her X Corporation small business stock and a $20,000 loss on her Y Corporation small business stock. Sally files her tax return as a single individual. What are the amount and the character of Sally's loss to be reported in the current year

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