To Meet the Control Test Under Section 351, Taxpayers Transferring

question 11

True/False

To meet the control test under section 351, taxpayers transferring property to a corporation must in aggregate own 80 percent or more of the corporation's voting stock and 80 percent of each class of nonvoting stock after the transfer.

---

Definitions:

Exception Occurs

A runtime event that disrupts the normal flow of instructions in a program, often due to errors.

Catch Block

A section of code designed to handle exceptions in a try-catch statement in programming languages like Java.

Try Block

A try block in programming is used to enclose code that might throw an exception, allowing it to be caught and handled gracefully.

Throwable

The superclass of all errors and exceptions in the Java language, from which all exception classes are derived.