Section 34 Basis to Stockholders

• Library: Bus Trans 2005

In the case of an exchange to which I.R.C. § 354 or I.R.C. § 356 applies, the basis of the property permitted to be received under these sections without the recognition of gain or loss will be the same as the basis of the property exchanged, decreased by the fair market value of any other property and money received by the taxpayer, and increased by the amount that was treated as a dividend plus the amount of recognized...