The Transfer of an Installment Obligation in a Transaction Qualifying

question 72

True/False

The transfer of an installment obligation in a transaction qualifying under § 351 is a disposition of the obligation that causes gain to be recognized by the transferor.

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Definitions:

Ethyl Alcohol

A colorless, volatile liquid that is the intoxicating agent in liquors and is also used as a solvent and in fuel.

Fetal Alcohol Syndrome

A condition in a child that results from alcohol exposure during the mother's pregnancy, causing growth, mental, and physical problems.

Developing Embryo

The early stage of human development in the womb, from fertilization through to the fetal stage.

Sudden Infant Death Syndrome

The unexplained death, usually during sleep, of a seemingly healthy baby less than a year old.