True or False. A corporations assumption of shareholder liabilities will always constitute boot in a 351 transaction.

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True or False. A corporation’s assumption of shareholder liabilities will always constitute boot in a §351 transaction. Explain.

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Essentials Of Federal Taxation 2019

ISBN: 9781260190045

10th Edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

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Question Posted: Jan 11, 2019 08:18 AM

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True or False. A corporations assumption of shareholder liabilities will always constitute boot in a 351 transaction.

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False Under the general rule the corporations assumption of a shareholders liability attache...View the full answer

Essentials Of Federal Taxation 2019

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