Anna received 100 shares of foxtrot stock as a gift from her father on November 15, Year
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Anna received 100 shares of foxtrot stock as a gift from her father on November 15, Year 2, when the fair market value (FMV) of the stock was $20 per share. Her father had purchased the stock on January 15, year 2. for $17 per share. Ann sold the 100 shares of foxtrot stock on May 31, Year 3, for $18 per share. Determine the Tax basis and holding period
Related Book For
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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