Question: The following statements about Code Sec. 1244 are all true, except: Stock issued for services qualifies as Code Sec. 1244 stock. A partnership may be

The following statements about Code Sec. 1244 are all true, except:

Stock issued for services qualifies as Code Sec. 1244 stock.

A partnership may be able to flow through a Code Sec. 1244 loss to some of its partners, but not to others.

Convertible preferred stock may be Code Sec. 1244 stock.

Code Sec. 1244 imposes specific passive income limitations on the corporation.

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