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  3. gives stock worth $28,000 (no gift tax resulted) t

gives stock worth $28,000 (no gift tax resulted) to her friend, Morris, on June 8,...

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Accounting

gives stock worth $28,000 (no gift tax resulted) to her friend, Morris, on June 8, 2019. Heather purchased the stock on September 1, 2006, and her adjusted basis is $22,000. Morris dies on December 8, 2019, and bequeaths the stock to Heather. At that date, the fair market value of the stock is $31,000. What is Heathers basis for the stock?

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