Identify Which of the Following Statements Is True.

Question 32
Multiple Choice

Identify which of the following statements is true. A)A transferor's gain or loss that goes unrecognized when Sec.351 applies is permanently exempt from taxation. B)If a taxpayer transfers property and services as part of a transaction meeting the Sec.351 requirements,all of the stock received is counted in determining whether the property transferors have acquired control. C)If a taxpayer transfers property and services as part of a transaction meeting the Sec.351 requirements,the nonrecognition of gain or loss will apply to the services. D)All of the above are false.