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3 Cards in this Set
- Front
- Back
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I. FORMATION
A. Corporation |
1 . General Rule-No Gain or Loss Recognized
a. Formation-----Issuance of common stock. b. Reacquisition------Purchase of treasury stock. c. Resale----------Sale of treasury stock. 2. Basis of Property (corporation receives) a . Adjusted basis (NBV) b. Debt assumed by corporation |
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I. FORMATION
B. Shareholder |
1 . N o Gain or Loss Recognized If:
a. 80% Control b. Boot Not received 2.Basis of Common Stock (to shareholder) a. Cash-------Amount contributed b. Property----------Adjusted basis (NBV) c. Services----------FMV (taxable) |
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I. FORMATION
PASS KEY |
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