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true or false: a) Coral in Ben form eagle corporation Carl transfers cash and $50,000 for 50 shares of stock of Eagle. ben transfers proprietary
true or false:
a) Coral in Ben form eagle corporation Carl transfers cash and $50,000 for 50 shares of stock of Eagle. ben transfers proprietary information with the tax basis of zero and a fair market value of $50,000 for the remaining 50 shares in eagle. Carl will have a tax basis of $50,000 in the stock in eagle corporation and bens basis in the the stock will be zero
b) in order to retain the services of Eve a key employee in Ted sole proprietorship. Ted contracts with Eve to make her a 30% owner. Ted incorporate the business receiving in return 100%of the the stock
Three days later ted transfers 30% of the stock to eve under these circumstances section 351 will aply to the incorporation of Ted's business
c) to ease a liquidity problem all of the shareholders of osprey corporation contribute additional cash to its capital. Osprey has no tax consequences from the contribution
d) A shareholder lend money to his corporation in his capacity as an investor if the loan becomes worthless a business bad results
e) if a shareholder One stop to see if there's a gift from her mother they cannot be section 1244 or 1202 stock
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