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Byte of Accounting, Inc.General JournalNeed help with 27 through.pdf
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C owns all of the stock of Z corporation, which is worth $1 million..pdf
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C owns all of the stock of Z corporation, which is worth $1 million. Z wants to acquire land worth $75,000 from D. C porposes to transfer $1.00 of cash to Z at the same time D transfers the land to Z. Each C and D will receive stock. a This is good Seciton 351 transaction. D will not recognize loss and Z Corporation will take a higher carry-over basis from D. b Tis is not a good Section 351 transactions since C is transferring de minimus amount of property per regularion 1.351 (a)(1)(ii). c Neither of the above Which one is the correct answer Solution c. neither of the above..
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C owns all of the stock of Z corporation, which is worth $1 million..pdf
- C owns all of the stock of Z corporation, which is worth $1 million. Z wants to acquire land worth $75,000 from D. C porposes to transfer $1.00 of cash to Z at the same time D transfers the land to Z. Each C and D will receive stock. a This is good Seciton 351 transaction. D will not recognize loss and Z Corporation will take a higher carry-over basis from D. b Tis is not a good Section 351 transactions since C is transferring de minimus amount of property per regularion 1.351 (a)(1)(ii). c Neither of the above Which one is the correct answer Solution c. neither of the above.
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