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
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relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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