On May 9, 2014, Calvin acquired 900 shares of stock in Aero Corporation, a new...
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Accounting
On May 9, 2014, Calvin acquired 900 shares of stock in Aero Corporation, a new startup company, for $77,400. Calvin acquired the stock directly from Aero, and it is classified as 1244 stock (at the time Calvin acquired his stock, the corporation had $900,000 of paid-in capital. On January 15, 2016, Calvin sold all of his Aero stock for $7,740. Assume that Calvin is single. If an amount is zero, enter "0". As a result of the sale,
Calvin has of Ordinary Loss:
Short Term Capital Loss:
Long Term Capital Loss
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