Question: On May 9 , 2 0 2 1 , Calvin acquired 8 5 0 shares of stock in Hobbes Corporation, a new startup company, for
On May Calvin acquired shares of stock in Hobbes Corporation, a new startup company, for $ Calvin acquired the stock directly from Hobbes, and it is classified as stock at the time Calvin acquired his stock, the corporation had $ of paidin capital On January Calvin sold all of his Hobbes stock for $ Assume that Calvin is single.
Assuming that Calvin is single, determine his tax consequences as a result of this sale.
If an amount is zero, enter
As a result of the sale, Calvin has:
Ordinary loss: $fill in the blank
Shortterm capital loss: $fill in the blank
Longterm capital loss: $fill in the blank
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