Which of these statements are true?

1In 351 transfer, a shareholder receives boot of $10,000 but ends up with a realized loss of

$3,000. Only $7,000 of the boot will be taxed to the shareholder.

2In 351 transfer, a shareholder who receives boot has a realized loss. None of the boot is taxed.

3In a 351 transfer, gain will be recognized to the extent of the greater of realized gain or the boot

received.

4Adam transfers 'inventory with an adjusted basis of $120,000, fair market value of $300,000, for

85% of the stock of Heron Corporation. In addition, he receives cash of $30,000. Adam recognizes

capital gain of $30,000 on the transfer.

5Since services are not considered property under 351, a taxpayer must report as income the fair

market value of stock received for such services.

6A stock redemption involves an exchange of stock for cash or property, thus, the transaction always

results in sale or exchange treatment for the shareholder.

7A corporation distributes property (fair market value of $20,000; basis of $13,000) to a shareholder

m a qualifying stock redemption. The shareholder will have a basis in the property equal to the

corporation's basis in the properly, or $13,000.

8In applying the stock attribution rules to a stock redemption, a shareholder is treated as owning the

stock of her siblings (i.e., sisters and brothers).

9In applying the stock attribution rules to a stock redemption, stock owned by a partnership is deemed

to be owned in full by a partner of the partnership.

10. In determining whether the meaningful reduction test has been met (for purposes of a not essentially

equivalent redemption), the most significant factor considered is a reduction in the shareholder's

voting control.