qbteachmt
Level 15

"The purchase price was $24k for the stock and no other monies received. I guess I would use the 24k and allocate between the classes of assets."

The entity's holdings didn't change when the stock sold. The entity did not sell its assets. Don't confuse the entity and the individual that was a shareholder.

If I sell you my GM stock, there is nothing that happens to GM.

 

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