In September of 2014,Michelle Sold Shares of Qualified Small Business

question 65

Multiple Choice

In September of 2014,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 7 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:

Blueprint

A detailed technical drawing or plan for designing buildings, machines, or any structure, traditionally rendered in white lines on a blue background.

Amino Acid Histidine

An essential amino acid important in the growth and repair of tissues, and the production of red and white blood cells.

DNA

Deoxyribonucleic acid, a molecule that carries the genetic instructions used in growth, development, functioning, and reproduction of all known living organisms.

Complimentary DNA Strand

The DNA strand that is complementary to the template strand; it pairs with the template strand during DNA replication.