Question
Kim owns 100 shares of ABC Inc. with a basis of $50 per share. On December 10 of year 1, she acquires 30 more shares
Kim owns 100 shares of ABC Inc. with a basis of $50 per share. On December 10 of year 1, she acquires 30 more shares of ABC Inc. for $30 a share. On December 31 of year 1, she sells 90 of her original shares for $40 a share.
What is the basis in Kim's remaining 40 shares of ABC Inc.?
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To calculate the basis in Kims remaining 40 shares of ABC Inc we need to use the first in first out ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
