What is taxpayers initial basis in the stock

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Reference no: EM133922405

Problem

In 2018, when Taxpayer (Purchaser) bought XYZ stock, Taxpayer paid $20,000 for the stock, $400 to Financial Planner who recommended it, and $200 to Stock Broker who handled the transaction. Get the instant assignment help. What is Taxpayer's initial basis in the stock?

Reference no: EM133922405

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