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2. LO.1, 2, 3, 4 Thania inherited 1,000 shares of Aqua, Inc. stock from Joe. Joe's basis in the stock was $35,000, and the fair
2. LO.1, 2, 3, 4 Thania inherited 1,000 shares of Aqua, Inc. stock from Joe. Joe's basis in the stock was $35,000, and the fair market value of the stock on July 1, 2021 (the date of Joe's death) was $45,000. The shares were distributed to Thania on July 15,2021 . Thania sold the stock on July 29,2022 , for $33,000. After giving the matter more thought, she decides that Aqua is a good investment and purchases 1,000 shares for $30,000 on August 19, 2022. a. What is Thania's basis for the 1,000 shares purchased on August 19, 2022? b. Could Thania have obtained different tax consequences in part (a) if she had sold the 1,000 shares on December 27, 2021, and purchased the 1,000 shares on January 5, 2022? Explain
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