Liabilities generally are not considered boot in corporate reorganizations except in an acquisitive "Type D" when cash or other property is also used in the transaction.

Question

Quizplus · Accepted Answer

Liabilities can be considered as boot in certain situations such as in a Type D reorganization when cash or other property is also used in the transaction. Therefore, the statement is false.

Liabilities Generally Are Not Considered Boot in Corporate Reorganizations Except