Art, an unmarried individual, transfers property (basis of $130,000 and fair market value of $120,000) to condor corporation in exchange for $1244 stock. the transfer qualifies as a nontaxable exchange under $ 351. because the property is loss property, condor takes a basis in the property of $120,000. five years later, art sells the condor stock for $50,000. with respect to the sale, art has:
a. an ordinary loss of $80,000.
b. an ordinary loss of $70,000 and a capital loss of $10,000.
c. a capital loss of $80,000.
d. a capital loss of $30,000 and an ordinary loss of $50,000.
e. none of the above.

The correct answer is "d. A capital loss of $30,000 and an ordinary loss of $50,000.".

Explanation: With respect to the sale, Art has: A capital loss of $30,000 and an ordinary loss of $50,000.

For the shares of $ 1244 the basis is $ 120000, when Art sells the shares at $ 50,000 the loss is $ 70,000 but as Art is not married the ordinary loss that corresponds to it is $ 50,000 and $ 30,000 correspond to the remaining capital loss.

answer; /// the above statement is (true);

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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