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1: Without Section 351, is transferring property into a corporation in exchange for its stock a taxable event? 2: What reason prompted Congress to enact

1: Without Section 351, is transferring property into a corporation in exchange for its stock a taxable event?

2: What reason prompted Congress to enact Section 351? Is it to remove this tax barrier to incorporation of an unincorporated business?

3: Will the gain on an exchange of property for stock be deferred (put off) until a future time?

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