Tina Is Single and One of the Founding Shareholders of Exacta

question 47

Multiple Choice

Tina is single and one of the founding shareholders of Exacta Corporation.She acquired her Exacta Section 1244 stock four years ago for $123,000.During the current year, Tina sold all of her Exacta stock to an unrelated party for $40,000.Tina had no other capital gains or losses during the year.What is the maximum amount of loss Tina can deduct in the current year for the Exacta stock?

• A)$83,000
• B)$53,000
• C)$50,000
• D)$3,000

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Definitions:

Cognitive Deficiencies

Lacks in mental processes of understanding, including attention, memory, and reasoning.

Irrational Beliefs

Thoughts or ideas that are unrealistic, illogical, or not based on fact or rational reasoning, often leading to negative emotional outcomes or behaviors.

Contextual Awareness

The understanding of how situational, cultural, and environmental contexts affect individuals' thoughts, behaviors, and emotions.

Consciousness Development

Refers to the process of expanding self-awareness, understanding, and insight, often through practices such as meditation, education, and self-reflection.