Will bonnies contribution qualify under section 351

Reference no: EM133648483

Question:

Assuming Clyde founded ABC Corp in 2009 and owns all of ABC's 1000 shares of outstanding stock. In 2013, now ABC issues 4500 shares of new stock to Bonnie in exchange for Bonnie's land. Will Bonnie's contribution qualify under Section 351?

Reference no: EM133648483

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