Which of the following statements about Section 1244 stock is true?
A. Gain recognized on sale of Section 1244 stock is taxed at a 28% maximum rate.
B. Corporations may issue an unlimited amount of Section 1244 stock.
C. Individuals may purchase Section 1244 stock directly from the issuing corporation or from another shareholder.
D. Some portion of a loss recognized on sale of Section 1244 stock is an ordinary deduction.
Answer: D
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