ETAX Corporation Income and Deductions R17-03B
How much gain is recognized by shareholder, when boot is received upon formation?
Gain recognized by shareholder = lower of 1) the realized gain, and 2) FMV of the boot.
How much gain is recognized by shareholder, when boot is received upon formation?
Gain recognized by shareholder = lower of 1) the realized gain, and 2) FMV of the boot.