Question: PLEASE ANSWER STEP BY STEP AND DO NOT SKIP ANY PARTS. I NEED DETAILED, STEP BY STEP EXPLANATIONS 2. Hector is in the 28% tax

PLEASE ANSWER STEP BY STEP AND DO NOT SKIP ANY PARTS. I NEED DETAILED, STEP BY STEP EXPLANATIONS

2. Hector is in the 28% tax bracket. He acquired 10,000 shares of stock in Eclipse Corporation three years ago at a cost of $100 per share. In the current year, Hector received a payment of $225,000 from Eclipse Corporation in exchange for 2,000 of his shares in Eclipse. Eclipse has E & P of $975,000. Hector has a capital loss carryover of $50,000 in the current tax year. Hector has no other capital gain transactions during the year. What amount of the capital loss may Hector deduct in the current year in the following situations? a. The $225,000 payment from Eclipse Corporation is a qualifying stock redemption for tax purposes. Hector may use $ of the capital loss carryover to offset the gain on the redemption. b. The $225,000 payment from Eclipse Corporation does not qualify as a stock redemption for tax purposes. Hector could deduct $ of the $50,000 capital loss carryover.

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