Samuel reese sold 1,000 shares of his stock in maroon, inc., an s corporation. he sold the stock for $15,700 after he had owned it for six years. samuel had paid $141,250 for the stock, which was issued under § 1244. samuel is married and is the owner of the 1,000 shares. samuel and his wife file a joint tax return. determine the appropriate treatment of any gain or loss on the stock sale.

Complete the statement below that outlines the appropriate Federal income tax treatment of any gain or loss on the stock sale.

Samuel Reese recognizes a loss of $125,550, of which $100,000 is an ordinary § 1244 deduction and $25,550 is a long-term capital loss.

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