Question
Five years ago, Debbie purchased 1,000 shares of common stock in JonesCorporation for $21,000. In the current year, Debbie receives a nontaxable stock dividend of
Five years ago, Debbie purchased 1,000 shares of common stock in JonesCorporation for $21,000. In the current year, Debbie receives a nontaxable stock dividend of 50 shares of Jones preferred. Total values at the time of the dividend are $50,000 for the preferred and $100,000 for the common. Based on this information, what is Debbie's basis?
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Principles Of Taxation For Business And Investment Planning 2016 Edition
Authors: Sally Jones, Shelley Rhoades Catanach
19th Edition
1259549259, 978-1259618536, 1259618536, 978-1259549250
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