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Doug receives a nontaxable stock dividend of 25 shares of ABC Corporation common stock, which has a fair market value of $1,000 at the time
Doug receives a nontaxable stock dividend of 25 shares of ABC Corporation common stock, which has a fair market value of $1,000 at the time of dividend. Doug previously owned 100 shares of ABC Corporation common stock which he purchased three years ago for $8,000. Doug's basis in his 125 shares of ABC Corporation stock is: Group of answer choices $6,000 $9,000 $6,400 $8,000
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