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How much will be treated as ordinary and capital loss

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Question - Gordon owns all of the outstanding stock of Crane, Inc. During 2020 Gordon sold all of his stico in Crane which qualified as "Section 1244 stock". The stock had a basis of $140,000 and sold for $30,000. If Gordon files a joint return, how much will be treated as ordinary and capital loss?

a. $0 ordinary and $110,000 capital loss

b. $50,000 ordinary and $60,000 capital loss

c. $100,000 ordinary and $10,000 capital loss

d. $110,000 and $0 capital loss

Reference no: EM132862534

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