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Augustus1 Augustus1
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7 years ago
In 2008 Toni purchased 100 shares of common stock in Blue Corporation for $5,280. In 2009, Blue declared a stock dividend of one share of its common stock for each 10 shares held. This year, 2010, Blue's common stock split 2 for 1 at a time when the FMV was $80 a share. What is Toni's basis in each of her shares of the Blue Corporation stock if both distributions were tax-free?
A) $24 per share
B) $48 for 110 shares and $0 for all additional shares
C) $52.80 for 100 shares and $0 for all additional shares
D) $80 per share
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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Yoko900Yoko900
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Augustus1 Author
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#2
7 years ago
I needed this so bad, I'm laughing right now from happiness
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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