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How much can randall deduct due to these losses

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Question - Randall is an investor in Fabrication Inc. In 2019 his basis in his stock is $30,000 before the adjustment for this year's losses. During 2019, Randall's share of the corporation's ordinary loss is $24,000 and his share of its capital loss is $16,000. How much can Randall deduct due to these losses?

a. $24,000 ordinary, $6,000 capital

b. $18,000 ordinary, $12,000 capital

c. $14,000 ordinary, $16,000 capital

d. $24,000 ordinary, $16,000 capital

e. None because he may have other gains

Reference no: EM132604616

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