Carmella owns 250 shares of stock, with a basis of $2,500. The stock split 2 for 1. Carmella now owns ______ shares at ______ per share.
500 shares at $5 per share.
500 shares at $10 per share.
250 shares at $5 per share.
250 shares at $10 per share.
Melonie owns shares of KBC Corporation. In early 2023, she received the following Form 1099-DIV, reporting the dividends paid for 2022. She has elected to have these dividends reinvested. Which of the following statements correctly describes the tax treatment of her reinvested dividends and the effect on her basis? (Answer choices are below the image.) The dividends are:
Not taxable on her 2022 return, but the new shares purchased increase her basis in the stock.
Not taxable until the stock is sold, and it does not affect her basis.
Taxable on her 2022 return and increase her basis in the original shares.
Taxable on her 2022 return, and her basis in the new shares purchased is the cash value of the dividends.
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