Multiple Choice
Adam purchased 1,000 shares of Airco Inc.common stock for $22,000 on February 3,2014.On April 1,2017,Adam received 100 new shares in a nontaxable stock dividend.As of April 1,the stock was trading at $25 per share.Adam sells the 100 new shares on June 15,2017 for $2,400.Due to the stock sale,Adam will recognize a
A) $100 STCL.
B) $2,400 STCG.
C) $400 STCG.
D) $400 LTCG.
Correct Answer:
Verified
Correct Answer:
Verified
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