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.

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Definitions:

Recurrent Impulse

The repeated feeling of a strong urge to act in a certain way, even if the action is unnecessary or harmful.

Molested

Subjected to unwanted or improper sexual advances or activity.

Eating Disorders

Mental health disorders characterized by abnormal or disturbed eating habits which negatively affect a person's physical and/or mental health.

Concomitant Mood Disorders

Mood disorders that occur simultaneously with other conditions, affecting overall mental health and functioning.