DETAILS, FICTION AND 357 CASH

Details, Fiction and 357 cash

Summary- The provisions contained in IRC Sec 357 must be cautiously examined so the non-taxable status with the transfer of liabilities to a controlled Company designed beneath Sec 351 will not be jeopardized. In keeping with Sec 351, a transfer of house to a corporation in exchange for shares will not bring about the recognition of any achieve or

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