Ray crockett sold 1000 shares of his stock in yellow inc an

Reference no: EM13612944

Ray Crockett sold 1,000 shares of his stock in Yellow, Inc., an S corporation. He sold the stock for $13,240, after he had owned it for five years. Ray had paid $137,400 for the stock, which was issued under § 1244. Ray is married and is the original owner of the 1,000 shares. Determine the appropriate tax treatment of any gain or loss on the stock sale.

Reference no: EM13612944

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