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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:
- her loss will be treated as a capital loss
- her loss will be limited to $50,000
- her loss will be treated as ordinary loss and limited to $100,000
- her loss will be treated as a personal loss