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Indicate whether the following statements are True or False regarding how the receipt of boot affects the taxation of shareholders in a transaction that qualifies
Indicate whether the following statements are "True" or "False" regarding how the receipt of boot affects the taxation of shareholders in a transaction that qualifies under 368. - No gain or loss is recognized by the shareholder. However, the corporation may be required recognize a gain. - The gain recognized by the stockholder is the lesser of boot received or realized gain. - A loss, not gain may be recognized by the shareholder when the shareholder receives only boot and no stock. - The gain recognized by the stockholder is the greater of boot received or realized gain
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