I am not sure if what I have is correct. I just need the little blue underlined ones answered.

Discussion Question 18-1 (LO. 1) In terms of justification and effect, $ 351 (transfer to a controlled corporation) and $ 1031 (like-kind exchange) are very much alike. Complete the statements below that explains this. Both $ 351 and 1031 provide for nonrecognition of gain or loss for certain transfers that otherwise would be taxable. This approach can be justified under the conduit concept. conduit related parties wherewithal to pay