Patrick, a 43-year-old taxpayer who will use the single filing status, bought 100 shares of HIJ stock for $10,000 in 2015. There were no subsequent adjustments to his basis, but the stock underperformed, and he sold his shares for $4,250 in 2019. Patrick had no other capital gains or losses during the year, and his only other income consisted of $80,000 in wages. If Patrick deducts the maximum capital loss on his 2019 return, what is his long-term capital loss carryover for 2020? $0

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.