(Answered) Question - worthless securities y purchased 30 shares of

Accounting

Question - 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.

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