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Which of the following statements best describes the impact of receiving boot in a 351 transaction? A) Boot received has no impact on the recognition

Which of the following statements best describes the impact of receiving boot in a 351 transaction?

A) Boot received has no impact on the recognition of gain or loss realized in a 351 transaction.

B) Boot received causes gain realized to be recognized, but not partial gain realized.

C) Boot received causes loss realized to be recognized, but not loss realized.

D) Both B and C is correct

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