Discussion Question 4-11 (LO. 3) With respect to the calculation of the basis of stock received by a shareholder in a $ 351 transfer, label each of the following as being either "True" or "False" a. If a shareholder transfers a liability to the corporation along with property, the basis in the stock received is reduced by the amount of the liability transferred to the corporation. b. Section 362(e)(2) generally requires the corporation to step down the carryover basis for the property by the amount of the net built-in loss. c. The shareholder's basis in the property transferred becomes the basis of the stock received, increased by the amount of gain recognized to the shareholder and decreased by the fair market value of boot received and the amount of liabilities transferred to the corporation. d. If a shareholder receives "other property" (boot) in addition to stock in a $351 transfer, loss is recognized to the shareholder to the extent of the lesser of the loss realized or the fair market value of the boot received