True or false: Contributions of cash and property to a corporation in exchange for shares of the corporations stock can be tax deferred.

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asked May 2, 2021 180k views

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Louisbob · Answer 1 · 2021-05-07T12:36:19+0000

Answer:

True

Step-by-step explanation:

According to the United States of America Code, under section 351, which basically deals with the transfer to a corporation controlled by the transferor, it is TRUE that contributions of cash and property to a corporation in exchange for shares of the corporation stock can be tax-deferred.

Hence, it can be concluded that the correct answer to this question is definitely TRUE.

True or false: Contributions of cash and property to a corporation in exchange for shares of the corporations stock can be tax deferred.

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