True/False
Ira, a calendar year taxpayer, purchases as an investment stock in Redbird Corporation on November 3, 2015. On February 2, 2016, Redbird Corporation is declared bankrupt, and Ira's stock becomes worthless. Presuming § 1244 (stock in a small business corporation) does not apply, Ira has a short-term capital loss for 2016.
Correct Answer:
Verified
Correct Answer:
Verified
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