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Two years ago, Rhonda received a gift of 100 shares of common stock from her parents. The fair market value of the stock on the
Two years ago, Rhonda received a gift of 100 shares of common stock from her parents. The fair market value of the stock on the date of the gift was $80 per share. Her parents had purchased the stock four years earlier at $60 per share. Rhonda sold this stock for $102 per share last week. What was Rhonda's per-share basis in the stock when it was sold? A) 182 B) $80 C) $60 D) $102
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