q32

$5,000 Loss $25,000 Gain QUESTION 32 Melody inherited 1,000 shares of Corporation Zappa stock from her mother who died on March 4 of the current year. Her mother paid 530 per share for the stock on September 2, 2005. The FMV of the stock on the date of death was $65 per share. On September 4 of the current year, the FMV of the stock was $70 per share. Melody sold the stock for $85 per share on December 3. An estate tax return was filed. What was Melody's basis in the stock on the date of the sale? $85,000 $70,000 $30,000 . $65,000 Click Save and Submit to save and submit. Click Save All Answers to save all answers. los $5,000 Loss $25,000 Gain QUESTION 32 Melody inherited 1,000 shares of Corporation Zappa stock from her mother who died on March 4 of the current year. Her mother paid 530 per share for the stock on September 2, 2005. The FMV of the stock on the date of death was $65 per share. On September 4 of the current year, the FMV of the stock was $70 per share. Melody sold the stock for $85 per share on December 3. An estate tax return was filed. What was Melody's basis in the stock on the date of the sale? $85,000 $70,000 $30,000 . $65,000 Click Save and Submit to save and submit. Click Save All Answers to save all answers. los