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What is the taxpayer basis in the new XYZ stock

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Question - A taxpayer owns 100 shares of XYZ stock with a basis of $700. The shares are sold for $625. The taxpayer then purchases 100 shares of XYZ stock 30 days later for $650. What is the taxpayer's basis in the new XYZ stock?

a. $700

b. $650

c. $625

d. $725

Reference no: EM132574186

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