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:

Risk Minimization

The process of identifying, assessing, and taking steps to reduce or eliminate risks to an organization.

Internal Validation

The process of reviewing and assessing the internal procedures, controls, and operations of an organization to ensure they are effective and in line with set standards or goals.

Supply Savings

The reduction in costs achieved through efficient supply management practices, including negotiation, strategic sourcing, and procurement efficiencies.

Market Changes

Refers to the fluctuations and transformations in the dynamics of a market, influenced by factors like consumer behavior, economic policies, and technological advancements.