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How do store up that gain for future recognition

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Reference no: EM133003856

Problem 1: As we've learned, Section 351-much like the like-kind exchange rules under Section 1031-often allows the gain that would otherwise be recognized in a corporate formation transaction to be deferred. How do we store up that gain for future recognition? Is it much the same thing we do under the like-kind exchange rules? How do we calculate it? How does the corporation calculate the basis in the property that it receives in a Section 351 transaction?

Reference no: EM133003856

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