On September 3, 2018, Able, a single individual, purchased § 1244 stock in Red Corporation from his friend Al for $60,000. On De

Question

3 years ago

11

On September 3, 2018, Able, a single individual, purchased § 1244 stock in Red Corporation from his friend Al for $60,000. On De

cember 31, 2018, the stock was worth $85,000. On August 15, 2019, Able was notified that the stock was worthless. How should Able report this item on his 2019 tax return?

Business

1 answer:

klio [65] · Answer 1 · 2022-04-03T05:56:18+03:00

klio [65]3 years ago

8 0

He should ask them why it was worthless then after a while of thinking maybe have and idea on how to use it again