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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.
Q15: Which of these notations would appear after
Q18: For purposes of a partial liquidation, the
Q23: The use of § 351 is not
Q24: When negative adjustments are made to the
Q27: Amy owns 20% of the stock of
Q27: Sweet Corporation, a new corporation, has gross
Q32: One advantage of acquiring a corporation with
Q38: Similar to likekind exchanges, the receipt of
Q72: Ashley, the sole shareholder of Hawk Corporation,
Q88: NOLs are negative adjustments.