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Section 1244 or worthless stock loss
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roxx13
Level 2
10-14-2024
02:19 PM
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C Corp established in 2019, last corp tax return filed in 2020, corp dissolution filed in 2023.
2500 shares at $1 per share issued.
The client lost over $100,000 of his investment over 3 years. No additional shares were issued when new funds were invested in the 3 year period. No income was generated in any of the years the corporation existed. They were primarily in a research and development stage. Can he claim a loss? If so, which IRC do they qualify for?
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