Question: Gene, a single taxpayer, sells Section 1 2 4 4 stock for a $ 3 5 , 0 0 0 loss. He also earns wages

Gene, a single taxpayer, sells Section 1244 stock for a $35,000 loss. He also earns wages of $75,000 and generates net capital gains of $12,000. What is Gene's ordinary income and capital gain income?

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