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Flashcards in Code Sections-MC1 Deck (28):
1

351

treatment to transferor shareholders

2

351 (a)

treatment to transferor shareholders, general rule-nonrecognition

3

351 (b)

treatment to transferor shareholders
receipt of property- taxable boot

4

351 (c)

treatment to transferor shareholders
special rules

5

351 (d)

treatment to transferor shareholders
Contribution of services not considered property

6

351 (e)

treatment to transferor shareholders
exceptions

7

351 (f)

treatment to transferor shareholders
treatment to controlled corporation on distribution of boot property

8

351 (g)

treatment to transferor shareholders
nonqualified preferred stock treated as boot

9

357

corporation's assumption of transferor shareholder's liability

10

357 (a)

corporation's assumption of transferor shareholder's liability
General rule- not treated as boot for recognition purposes

11

357 (b)

corporation's assumption of transferor shareholder's liability
tax avoidance purpose- total amount of liabilities treated as boot

12

357 (c)

corporation's assumption of transferor shareholder's liability
Liabilities in excess of basis-triggers recognition

13

358

basis of stock to shareholders

14

358(a)(1)

basis of stock- qualified stock: substituted basis + gain recognized - boot received

15

358(a)(2)

basis of stock to shareholders
boot property received: FMV

16

358(b)

basis of stock to shareholders
allocation of basis

17

358(d)(1)

basis of stock to shareholders
Assumption of liability
in general, treated as boot for basis adj.

18

358(d)(2)

basis of stock to shareholders
assumption of liabilities
exception for Sec. 357(c)(3)

19

362

basis of property to corporation: Carryover basis + gain recognized by shareholder

20

368(c)

control defined

21

1001

determination of gain and loss realized and recognized

22

1001 (a)

determination of gain and loss realized and recognized
computation of gain or loss

23

1001 (b)

determination of gain and loss realized and recognized
amount realized

24

1001 (c)

determination of gain and loss realized and recognized
gain or loss recognized

25

1011

Adjusted basis

26

1012

basis of property-cost

27

1032

exchange(issuance) of stock for property by corporation-non recognition

28

1223

Holding period of property (and stock)