If a shareholder of a controlled or solely owned corporation receives no additional shares for a contribution of property to the corporation, the basis of the property received by the corporation is the same as it was to the shareholder True or False Explain ...

The given statement is true If the shareholder of a solely owned corporation contributed pr ...

If a shareholder of a controlled or solely owned corporation receives no additional shares for a contribution

Question:

If a shareholder of a controlled or solely owned receives no additional shares for a contribution of property to the the basis of the property received by the is the same as it was to the shareholder. True or False? Explain
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...