When Depreciable Property Is Transferred to a Controlled Corporation Under

question 60

True/False

When depreciable property is transferred to a controlled corporation under § 351, any recapture potential disappears and does not carry over to the corporation.

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Definitions:

Digital Inclusion

The practice of ensuring that individuals and disadvantaged groups have access to, and the skills to use, digital technologies and the Internet.

Digital Divide

The disparity between people who can use current information and communication technology and those unable to access it.

Internet of Things (IoT)

A network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, and connectivity, which enables these objects to connect and exchange data.

Intellectual Property Rights

Legal rights granted to creators and owners over the creations of their minds, including patents, copyrights, and trademarks.