What was melodys basis in the stock on the date of the sale

Reference no: EM131913262

Problem

Melody inherited 1,000 shares of Corporation Zappa stock from her mother who died on March 4 of the current year. Her mother paid $30 per share for the stock on September 2, 2005. The FMV of the stock on the date of death was $65 per share. On September 4 of the current year, the FMV of the stock was $70 per share. Melody sold the stock for $85 per share on December 3. The estate qualified for, and the executor elected, the alternate valuation method for these and other assets in the estate. An estate tax return was filed. What was Melody's basis in the stock on the date of the sale?

Reference no: EM131913262

Questions Cloud

What is the terminal cash flow for this project : You decide to sell it at the end of year 2 for $65,000. Your tax rate is 25%. You also had an addition of $7,500 in working capital.

Determine the value of the bond to you given the market : Determine the value of the bond to you given the market's required yield to maturity on a? comparable-risk bond.

Forecast the additional funds carlsbad will need : The firm decides to pay all suppliers on delivery, rather than after a 30-day delay, to take advantage of discounts for rapid payment.

Determine what is the current price of the bond : 16 years ago, Blue Lake Corp. issued 30 year to maturity zero-coupon bonds with a par value of $5,000.

What was melodys basis in the stock on the date of the sale : Melody inherited 1,000 shares of Corporation Zappa stock from her mother who died on March 4. What was Melody's basis in the stock on the date of the sale?

What is the beta of your portfolio : Your goal is to create a portfolio that has an expected return of 12.85 percent.

What is the variance of a portfolio consisting : What is the variance of a portfolio consisting of $3,500 in Stock G and $6,500 in Stock H?

What must be the amount of common stock issued : If Mel's Mechanical Repair Shop ends year with total assets of $80,000 and total liabilities of $35,000, what must be amount of common stock issued during year?

How much are you willing to pay to buy one share : How much are you willing to pay to buy one share of this stock if your desired rate of return is 12%?

User Account

All Pages