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How will loss be reported on laurel individual tax return

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Reference no: EM131661939

Question - Laurel transfers property with an adjusted basis of $10,000 and an FMV of $2,000 to T Corp. for its small business stock. Three years later, the stock becomes worthless. How will the loss be reported on Laurel's individual tax return?

A. $10,000 capital loss

B. $10,000 ordinary loss

C. $2,000 ordinary loss and $8,000 capital loss

D. $8,000 ordinary loss and $2,000 capital loss

Reference no: EM131661939

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