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scott has transferred some property to a corporation in a section 351 transaction. In return, Scott received property as well as stock from the same

scott has transferred some property to a corporation in a section 351 transaction. In return, Scott received property as well as stock from the same corporation. Under Sction 351, the implications of this transfer for Scott would be that:

  1. he could recognize gain
  2. he will not be considered to have gained control
  3. he will be unable to recognize gain or loss on the transaction
  4. his transaction will be considered a nontaxable exchange

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