Tax Return Form 1040 Question

7. On August 5, 2017, Matthew purchased 1,000 shares of Farmers Markets America (FMA) common stock for $16 a share as part of its initial public offering. The corporation was formed to establish and operate farmers' markets in mid-size cities throughout the United States. Although some market locations were profitable, the venture as a whole proved to be a failure. In November 2019, FMA's remaining assets were seized by its creditors, and FMA stock became worthless. 7. On August 5, 2017, Matthew purchased 1,000 shares of Farmers Markets America (FMA) common stock for $16 a share as part of its initial public offering. The corporation was formed to establish and operate farmers' markets in mid-size cities throughout the United States. Although some market locations were profitable, the venture as a whole proved to be a failure. In November 2019, FMA's remaining assets were seized by its creditors, and FMA stock became worthless