MrsLindt Exchanged 212 Shares of Nipher Common Stock for 773

question 29

Multiple Choice

Mrs.Lindt exchanged 212 shares of Nipher common stock for 773 shares of Newland common stock.Her basis in the Nipher stock was $49,200,and the fair market value of the Newland stock was $138,000.Which of the following statements about the exchange is true?

• A)Mrs.Lindt's basis in her Newland stock is $138,000.
• B)Mrs.Lindt recognizes no gain on the exchange because she did not receive any cash.
• C)If the exchange is pursuant to a reorganization of Nipher and Newland,Mrs.Lindt recognizes no gain.
• D)None of the above is true.

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Definitions:

Repression

A psychological defense mechanism where unwanted thoughts and memories are unconsciously blocked.

Erogenous Zones

Specific areas of the body that experience heightened sensitivity, which can lead to sexual arousal when stimulated.

Gender Identity

A person's deeply-felt internal experience of gender, which may or may not correspond with the sex assigned at birth.

Emotional Trauma

Psychological damage that occurs as a result of a distressing event, which overwhelms an individual's ability to cope, causing feelings of helplessness.