Basis, Boot, Built-In Gains: §351 and §721 Non-Recognition Tax Provisions

This 2-hour continuing education course provides a comprehensive and practical examination of the non-recognition rules under Internal Revenue Code §§351 and 721, which govern tax-free transfers to corporations and partnerships. These provisions are essential for tax professionals who advise clients on entity formations, restructuring, contributions of appreciated property, and capitalization strategies.

Participants will learn:
-The statutory requirements for non-recognition under §351 and §721
-The definition of "property" versus taxable services
-The control requirement under §351,
-Treatment of liabilities
-Computation of shareholder basis