Question
Client has a basis of $20,000 in his 500 shares of ZXZ Inc. On September 14 he sells all of his ZXZ shares for $18,000.
Client has a basis of $20,000 in his 500 shares of ZXZ Inc. On September 14 he sells all of his ZXZ shares for $18,000. On September 28, he reacquires 500 shares of ZXZ and pays $18,500. What is his basis in the 500 ZXZ shares acquired on September 28?
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Fundamentals Of Financial Management Concise
Authors: Eugene F. Brigham, Joel F. Houston
11th Edition
0357517717, 9780357517710
