Which of the Following Characteristics Is the Same for Transfers

question 53

Multiple Choice

Which of the following characteristics is the same for transfers of property to both a corporation and to a partnership in exchange solely for an ownership interest?

• A)The transferors must have control of the corporation or partnership after the transfer.
• B)Liabilities assumed affect the owner's basis in the entity's business in the same manner.
• C)Loss is not recognized.
• D)The holding period for all the assets transferred begins on the date of the transfer.
• E)None of the characteristics are the same for both entities.

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