1. An existing shareholder may help another shareholder transfer property to a corporation under Code Sec. 351 by also contributing any amount of property (even $1) so that the existing shareholder's stock may count towards the "control" requirement.

A. True

B. False

2. Liabilities assumed by a corporation on property contributed under Code Sec. 351 are treated as boot if any of the liabilities are assumed for a tax avoidance purpose or there is no business purpose for their transfer.

A. True

B. False