What is a reamortized loan

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Reference no: EM131625448

1. Zeke inherited 110 shares of ABC stock from his father on January 5, 2016, and sold the stock on February 2, 2016. The stock basis reported on Form 8949 is:

a) the price paid by his father when the stock was acquired.

b) the fair market value for the stock on the day of his father's death.

c) the average of the basis on January 5, 2016, and on February 2, 2016.

d) the stock price six months before his father died.

2. What is a reamortized loan?

a) an uncollectible loan on eal property.

b) a loan where the interest rate has been lowererd.

c) a cancelled loan on property that has been repossessed.

d) a loan where missed payments are added to the loan balance in order to bring the payment current.

Reference no: EM131625448

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