Series 7 - General Securities Representative Exam
Training Mode
According to the IRS, If a bond is bought at 105, what is the tax basis if is held until maturity?
The original purchase price
A
The original purchase price as long as the premium was not amortized over the life of the bond
B
Par value minus the discount as long as the premium was not amortized over the life of the bond
C
Par value minus the premium as long as the premium was not amortized over the life of the bond
D