Question: On July 1 8 , 2 0 1 9 , Ned Leeds, a single individual, purchased 1 2 4 4 stock in Spider X Corporation

On July 18,2019, Ned Leeds, a single individual, purchased 1244 stock in Spider X Corporation from his friend Peter for $60,000. On December 31,2019, the stock was worth $85,000. On November 15,2024, Ned was notified that the stock was worthless. How should Ned report this item on his 2024 tax return?

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