Similar to like-kind exchanges, the receipt of "boot" under § 351 can cause loss to be recognized.

Name: Similar to like-kind exchanges, the receipt of "boot" under § 351 can cause loss to be recognized.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Under § 351, the receipt of "boot" (additional consideration) does not cause loss to be recognized; it can, however, trigger the recognition of gain if the amount of boot received exceeds the basis of the property transferred. Losses are generally not recognized in § 351 transactions.

Similar to Like-Kind Exchanges, the Receipt of "Boot" Under §