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Are the provisions of Code Section 351 desirable to the shareholders forming the corporation? Why or why not? How do they impact the basis of

Are the provisions of Code Section 351 desirable to the shareholders forming the corporation? Why or why not?

How do they impact the basis of any assets received to the corporation?

Why did congress set up the code section 351 this way?

How does Code Section 351 impact whether shareholders contribute cash or asset to the corporation?

As the accountant for a potential shareholder, what would you advise? Why?

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