What is a carryover basis as it relates to property received by a corporation in a 351 transaction What is the purpose of attaching a carryover basis to property received in a 351 transaction ...

Under the carryover basis rule the tax basis of property received by the c ...

What is a carryover basis as it relates to property received by a corporation in a 351

Question:

What is a carryover basis as it relates to property received by a in a §351 transaction? What is the purpose of attaching a carryover basis to property received in a §351 transaction?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...