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John and Bob transfer assets to a new corporation. It will be tax free if: They get cash for property It is only tax free

John and Bob transfer assets to a new corporation. It will be tax free if:

They get cash for property

It is only tax free if they transfer services to the corporation. It is taxable if they transfer assets

They get stock for property and control of the corporation

They get at least 60% of the stock of the corporation

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