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Nikki exchanges property having a $20,000 adjusted basis and a $16,000 FMV for 100 shares of Niftik stock in a transaction qualifying under Sec. 351. The stock qualifies as Sec. 1244 stock. Nikki's basis in her Niftik stock is $20,000. If Nikki sells her stock for $5,000, what is the amount and character of her loss?
Physicians
Medical professionals who are licensed to diagnose and treat illness, injury, and other physical and mental impairments in humans.
Ethnic Group
A community or population made up of people who share a common cultural background, heritage, language, or lineage.
Underestimate
The act of judging something to be smaller or less important than it actually is.
Chronic Pain
A persistent or recurring pain that lasts longer than three months, often significantly affecting an individual’s quality of life.
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