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Business, 19.12.2019 05:31 elirosejohlandancel

On july 20, 2017, matt (who files a joint return) purchased 3,000 shares of orange corporation stock (the stock is § 1244 small business stock) for $24,000. on november 10, 2017, matt purchased an additional 1,000 shares of orange corporation stock from a friend for $150,000. on september 15, 2018, matt sold the 4,000 shares of stock for $120,000. how should matt treat the sale of the stock on his 2018 return?

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On july 20, 2017, matt (who files a joint return) purchased 3,000 shares of orange corporation stock...
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