What are the amount and character of y loss

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Reference no: EM13130787

Worthless Securities, Y purchased 30 shares of BCD corporation common stock on March 2, 2010 for $2475. On February 26,2011, Y was notified by her broker that the stock was worthless.

a. What are the amount and character of Y's loss?
b. Could this loss qualify as an ordinary deduction under § 1244. Explain.

Reference no: EM13130787

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