In General, the Basis of Property to a Corporation in a Transfer

question 42

True/False

In general, the basis of property to a corporation in a transfer that qualifies as a nontaxable exchange under § 351 is the basis in the hands of the transferor shareholder decreased by the amount of any gain recognized on the transfer.

---

Definitions:

Intracellular Matrix

This is not a real key term. Intracellular components are usually referred to as cytoplasm or intracellular fluid; the term "extracellular matrix" refers to the substance surrounding cells. NO.

Tissue

Groups of similar cells and their extracellular matrix that work together to perform specific functions within organisms.

Neurons

The basic working units of the brain, specialized cells that transmit information to other nerve cells, muscle, or gland cells.

Nervous Tissue

Specialized tissue that forms the nervous system, consisting of neurons and supporting cells, critical for transmitting impulses throughout the body.