Sec 351 Exception 2 Flashcards
1
Q
Property FMV 30k AB 15k Liab 5k
A
S/H basis 10k. Recognized gain 0 corp basis 15k + 0. Boot = Liab 5k < AB of P 15k = 0
regulation > Sec 351 Exception 2 > Flashcards
Property FMV 30k AB 15k Liab 5k
S/H basis 10k. Recognized gain 0 corp basis 15k + 0. Boot = Liab 5k < AB of P 15k = 0