Multiple Choice
Etta received nontaxable stock rights on October 3,2014.She allocated $16,000 of the $50,000 basis for the associated stock to the stock rights.The stock rights are exercised on November 8,2014.The exercise price for the stock is $52,000.What is Etta's basis for the acquired stock?
A) $0
B) $16,000
C) $52,000
D) $68,000
E) None of these
Correct Answer:
Verified
Correct Answer:
Verified
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