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55. Generally speaking, the following assets will have what holding period and character in the hands of corporation following a qualifying Section 351 transaction:
55. Generally speaking, the following assets will have what holding period and character in the hands of corporation following a qualifying Section 351 transaction: Long Term Capital "LTC"; Long Term Ordinary "LTO": Short Term Capital "STC"; Short Term Ordinary"STO"; Other-"1231" a) Land originally purchased 6 months ago b) Equipment used in a trade or business purchased 18 months ago c) Furniture used in a trade or business purchased 2 months ago d) A vacant warehouse built 13 months ago but never placed into service e) Inventory manufactured 18 months ago
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
14th edition
130565353X, 978-1305887510, 1305887514, 978-1305653535
