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:

Estate

The total property, assets, and liabilities that a person owns or is responsible for.

Insider

Someone who has access to confidential or exclusive information, typically within a corporation or similar organization.

Relative

A person who is connected to another by blood or marriage.

Debtor

An individual or entity that owes money to another entity.