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QUESTION

Your client, glenn, has filed a joiint return, and his spouse reported a loss of 1244 stock, which she held as her separate property.

Your client, glenn, has filed a joiint return, and his spouse reported a loss of 1244 stock, which she held as her separate property. glenn wants to know the tax consequences of his spouse's stock loss. you would explain to him that:

  1. her loss will be treated as a capital loss
  2. her loss will be limited to $50,000
  3. her loss will be treated as ordinary loss and limited to $100,000
  4. her loss will be treated as a personal loss
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