How much short term capital loss should Matt include

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Reference no: EM132702508

Question - On July 20, 2019, Michael (MFJ) purchased 3,000 shares of Pink Corporation stock (the stock is § 1244 small business stock) for $8/share. On November 10, 2019, Michael purchased an additional 1,000 shares of Pink Corporation stock from a friend for $15/share. On September 15, 2020, Matt sold the 4,000 shares of stock for $27.5/share. How much short term capital loss should Matt include in his 2020 return from the sale of the stock?

Reference no: EM132702508

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