B owns 85 percent of the stock of D Corporation, and C owns the remaining 15 percent.The corporation has been in operation for three years.During the year, B transferred land worth $20,000 (basis $11,000) to the corporation for additional shares, increasing his ownership to 88 percent.B is not required to recognize gain on the transfer.

Question

Quizplus · Accepted Answer

The Answer is True

B Owns 85 Percent of the Stock of D Corporation