Identify Which of the Following Statements Is True

question 90

Multiple Choice

Identify which of the following statements is true.

• A)The loss realized on the sale of a property is disallowed when such property was received by a corporation as a contribution of capital in a transaction having as its principal purpose the recognition of loss pursuant to the corporation's subsequent liquidation later in the same taxable year.
• B)Losses claimed in a tax return filed before the adoption of the plan of liquidation are not restricted by Sec. 336(d)(2).
• C)Properties acquired by a liquidating corporation as a capital contribution occurring within three years of the adoption of a plan of liquidation are generally presumed to have a tax avoidance motive.
• D)All of the above are false.

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Definitions:

Therapeutic Response

The positive change or benefit a patient experiences after treatment or therapy.

Self-Blame

The act of attributing personal failures or negative events to one's own deficiencies or actions.

Coping Strategy

A method or technique used to manage or overcome demands and conflicts in life.

Repression

The unconscious exclusion of painful impulses, desires, or fears from the conscious mind.