In September of 2017,Michelle Sold Shares of Qualified Small Business

question 79

Multiple Choice

In September of 2017,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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