Question: Anna inherited 100 shares of Mike stock from her sister, who had purchased the stock on Jan 31, year 2, for $22 per share. Ann sister died on June 1, year 2. the FMV of stock on the date of death was $24 per share. The executor elected alternated valuation date. The fmv of the stock on the alternate valuation date of Dec 1, year 2, was $26 per share. The stock was distributed to anna on feb 25, year 3, when the fmv was $25 per share. Anna sold the mike stock on July 15, year 3, for $20. Tax basi