Tyneka inherited 1,000 shares of Aqua, Inc. stock from Joe. Joe's basis was $35,000, and the fair market value on July 1, 2019 (the date of death) was $45,000. The shares were distributed to Tyneka on July 15, 2019. Tyneka sold the stock on July 30, 2020, for $33,000. After giving the matter more thought, she decides that Aqua is a good investment and purchases 1,000 shares for $30,000 on August 20, 2020.

A. Tyneka's basis for the 1,000 shares of stock purchased on August 20, 2020, is30,000?

Adjusted basis is the net cost of the asset after adjusting for tax related expenses. There are no expenses, but answer is not $30,000