Anna received 100 shares of Foxtrot stock as a gift from her father on November 15, Year 2, when the fair market value (FMV) of the stock was $20 per share. Her father had purchased the stock on January 15, Year 2, for $17 per share. Anna sold the 100 shares of Foxtrot stock on May 31, Year 3, for $18 per share. What was Anna's tax basis in the 100 shares? Question Blank 1 of 1

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When Anna received the 100 shares of Foxtrot stock as a gift her tax basis for the s... View the full answer