When Depreciable Property Is Transferred to a Controlled Corporation Under

question 60

True/False

When depreciable property is transferred to a controlled corporation under § 351, any recapture potential disappears and does not carry over to the corporation.

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Definitions:

Current Costs

The present-day costs of goods and services, not adjusted for inflation.

Logrolling

The practice of exchanging favors, especially in politics by reciprocal voting for each other's proposed legislation.

Vote Trading

The practice of exchanging votes among legislators to achieve a desired outcome on specific bills or policies.

Legislators

Individuals who are members of a legislative body, responsible for discussing and enacting laws in a particular jurisdiction.