Identify which of the following statements is true.
A) Corporate purchasers generally prefer Sec. 338 treatment because of the significant tax savings originating from the step- up in basis.
B) The Sec. 338 deemed liquidation rules require that 100% of the target corporation's stock be purchased.
C) A deemed liquidation election is available when a target corporation is liquidated into its parent corporation.
D) All of the above are false.
Correct Answer:
Verified
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