Homework Answers
The answer is TRUE. When consideration is transferred to the corporation in return for stock, the definition of property is important because tax deferral treatment of § 351 is available only to taxpayers who transfer property.
The property for the purpose of §351 includes both tangible and intangible items, except services. Stock is an tangible good. Hence, considered as property under §351.
Therefore the correct answer is TRUE.
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when consideration is transferred to a corporation in return for stock, the definition of property is...
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