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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:
- he could recognize gain
- he will not be considered to have gained control
- he will be unable to recognize gain or loss on the transaction
- his transaction will be considered a nontaxable exchange
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