In September of 2019,Michelle Sold Shares of Qualified Small Business

question 46

Multiple Choice

In September of 2019,Michelle sold shares of qualified small business stock for $1,000,000 that had a basis of $200,000.She had held the stock for 17 months.Forty-five days after the sale she purchased other qualified small business stock for $1,100,000.What is the basis in the new stock she purchased?

• A)$200,000
• B)$300,000
• C)$800,000
• D)$1,100,000

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Definitions:

Tongue

The muscular organ of the mouth that assists in the production of speech, contains the taste buds, and provides the ability to swallow.

Papillae Projections

Small, nipple-like structures on the surface of an organ, such as the tongue, that often contain taste buds.

Taste Buds

Small sensory organs located on the tongue that allow humans to perceive different tastes.

Digestive

Pertaining to digestion.