Avoiding Gain When Indebtedness Exceeds Basis

dc.contributor.author Harl, Neil
dc.contributor.department Iowa State University Digital Repository
dc.date 2018-02-18T18:54:44.000
dc.date.accessioned 2020-06-29T23:01:02Z
dc.date.available 2020-06-29T23:01:02Z
dc.date.embargo 2017-08-03
dc.date.issued 1998-09-11
dc.description.abstract <p>One of the most painful outcomes on the formation of a corporation in a tax-free exchange is to discover, too late, that indebtedness taken over by the corporation exceeded the income tax basis of the property transferred to the corporation. It is a fundamental requirement of a transfer to a corporation that if the corporation assumes a liability of the transferor or takes property subject to a liability, as for example a mortgage, the amount of the liability is treated as money received and reduces the basis of the stock received.</p>
dc.identifier archive/lib.dr.iastate.edu/aglawdigest/vol9/iss17/1/
dc.identifier.articleid 1451
dc.identifier.contextkey 10539819
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol9/iss17/1
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/4211
dc.source.bitstream archive/lib.dr.iastate.edu/aglawdigest/vol9/iss17/1/AgLawDigest_v09n17_01.pdf|||Fri Jan 14 17:46:00 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title Avoiding Gain When Indebtedness Exceeds Basis
dc.type article
dc.type.genre article
dspace.entity.type Publication
relation.isJournalIssueOfPublication c2c0c069-677a-4eb1-a618-b6e1d1be5923
relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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