Sonya inherits 1,000 shares of Big Red Airline Corporation stock from the estate of her Uncle Tony.Tony died on August 4,2016.The stock's value on August 4,2016,is $2,000.Tony purchased the stock for $3,000 several years ago.Sonya sells the 1,000 shares for $2,300 on December 8,2016.What is Sonya's holding period of the stock?
A) Short-term.
B) Long-term.
C) Depends on which value is used.
D) Depends on whether an estate tax was paid.
Correct Answer:
Verified
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