Question
Corporations recognize no gain orloss when it issues stock shares for property even if the shareholder contribution is voluntary. True False Mortgage debt transferred together
Corporations recognize no gain orloss when it issues stock shares for property even if the shareholder contribution is voluntary.
True
False
Mortgage debt transferred together with the realty in exchange for stock, no gain is recognized and the liability is considered boot.
True
False
a P-Corp is a type of disregarded entity (aka DRE)
True
False
When boot is received 351 loss is never recognized
True
False
code 351 is mandatory if a transaction has the following elements (mark all that apply)
A. stock is exchanged
B. cash is exchanged
C. control of the corp is exchanged
D. property is transferred
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