QUESTION 2

1. All the following statements are true about corporate reorganization except:

   	a.	Taxable amounts for shareholders are classified as a dividend or capital gain.
   	b.	Reorganizations receive treatment similar to corporate formations under 351.
   	c.	The transfers of stock to and from shareholders qualify for like-kind exchange treatment.
   	d.	The value of the stock received by the shareholder less the gain not recognized (postponed) will equal the shareholders basis in the stock received.
   	e.	All of these are true.