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.

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Definitions:

Action Potential

A rapid, temporary change in a cell's electrical charge that facilitates the transmission of signals in neurons.

Serotonin

A neurotransmitter involved in many functions including mood regulation, digestion, and sleep.

Regulation Of Mood

Processes and activities that help in controlling or balancing emotional states or moods.

Depolarization

A process in neuroscience where the resting potential of a cell membrane becomes less negative, making the cell more likely to fire an action potential.