Section 1244 Stock

{
  "id": "MLC-T-LAW-004420",
  "term": "Section 1244 Stock",
  "field": "Law",
  "definition": "A provision of the Internal Revenue Code that allows individual investors to treat losses from the sale or worthlessness of stock in a small business corporation as ordinary losses, rather than capital losses. This provides a tax advantage by allowing the loss to offset ordinary income up to a certain limit. The maximum ordinary loss deduction is $50,000 per year, or $100,000 for married couples filing jointly.",
  "url": "https://mlchart.com/terminology/law/section-1244-stock/"
}