Question: On May 9 , 2 0 2 1 , Calvin acquired 6 5 0 shares of stock in Hobbes Corporation, a new startup company, for

On May 9,2021, Calvin acquired 650 shares of stock in Hobbes Corporation, a new startup company, for $97,750. Calvin acquired the stock directly from Hobbes, and it is classified as 1244 stock (at the time Calvin acquired his stock, the corporation had $900,000 of paid-in capital). On January 15,2023, Calvin sold all of his Hobbes stock for $9,775. Assume that Calvin is single.

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