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Bob individually owns 3 separate businesses and currently puts their results on 3 separate Schedule Cs. Bob has decided to incorporate one of these 3

Bob individually owns 3 separate businesses and currently puts their results on 3 separate Schedule Cs. Bob has decided to incorporate one of these 3 businesses next year using IRC Section 351. Bob must receive permission in advance from the IRS before incorporating this business as a Subchapter C Corporation.

A) True

B) False

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