Hank Inherited Green Stock from His Mother When She Died

question 37

Multiple Choice

Hank inherited Green stock from his mother when she died. The mother had a tax basis of $366,000 for the Green stock when she died and the Green stock was worth $437,000 at the date of her death. Which of the statements below is correct?

• A) Hank's holding period for the Green stock includes his mother's holding period for the stock.
• B) Hank's holding period for the Green stock does not include his mother's holding period for the stock.
• C) Hank's holding period for the Green stock is automatically long term.
• D)Band c.
• E) None of the above.

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