Answer:
The correct option is B. The fair market price for the stock on the day of his father's death.
Explanation:
FAIR MARKET VALUE can simply be defined as the agreed price a seller is ready to take from the buyer which means that Based on the information given in a situation where there was NO alternate valuation date the STOCK BASIS that will be reported on Form 8949 will be The FAIR MARKET VALUE or the asset market value for the stock on the day of his father's death meaning that what the FAIR MARKET VALUE of the inherited ABC stock of 110 shares that was sold on February 2, 2018 was on the day of his father's death will be what will be reported on Form 8949 since there was NO alternate valuation date which he can choose from that will enable him to sell the stock for what the fair market price was on the date the stock was actually sold which is February 2, 2018.
