Multiple Choice
Jeannie purchased 1,000 shares in Course Developers for $10,000 on August 11,2016.The company went bankrupt on May 11,2017 with no hope of recovery for the shareholders.On what date is the stock deemed to be worthless and what is the nature of the loss?
A) December 31,2016 short-term loss in 2016.
B) December 31,2017,short-term loss in 2017.
C) December 31,2017,long-term loss in 2017.
D) May 11,2017,short-term loss in 2017.
Correct Answer:
Verified
Correct Answer:
Verified
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