Two Essays - Accounting

Anonymous
timer Asked: Dec 27th, 2018
account_balance_wallet $35

Question description

Option #1: Section 351 Requirements

Sara and Mark transferred property to Owl Corporation in exchange for two-thirds of its stock. For services rendered, Alex received the remaining one-third of the stock. Explain whether the exchanges will be taxable in the context of Section 351 and describe several steps which could be taken to mitigate tax liability.

Submission Requirements

  • Your well-written answer should be 3 pages in length, not including the required cover and references pages.
  • Be sure to discuss and reference concepts taken from the assigned textbook reading and relevant research.
  • Support your paper with at least four to six tax, scholarly, legislative, or court references (of which the textbook may be one). The CSU-Global Library and RIA Checkpoint are good places to find these references.
  • Format your answer according APA.
  • Review the grading rubric to see how you will be graded for this assignment.

``````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````````

Option #2: Section 338 Election and Stock Acquisition

Pursuant to an election under Section 338, Lemon Corporation acquires stock and, in conjunction with the stock seller, elects to treat the stock purchase as an asset acquisition. Prepare a letter to Lemon Corporation in which you answer the following:

  • How this choice is permissible under Section 338, including the specific subsection applicable to this scenario;
  • How the deemed asset sale should be reported on the target company’s consolidated income tax return; and
  • Why Lemon Corporation would choose to treat the acquisition this way (what benefit do they stand to gain?).

Submission Requirements

  • Your well-written answer should be 3 pages in length, not including the required cover and references pages.
  • Be sure to discuss and reference concepts taken from the assigned textbook reading and relevant research.
  • Support your paper with at least four to six tax, scholarly, legislative, or court references (of which the textbook may be one). The CSU-Global Library and RIA Checkpoint are good places to find these references.
  • Format your answer according APA
  • Review the grading rubric to see how you will be graded for this assignment.

Tutor Answer

Robert__F
School: UIUC

Please let me know if there is anything needs to be changed or added. I will be also appreciated that you can let me know i...

flag Report DMCA
Review

Anonymous
Thanks, good work

Similar Questions
Hot Questions
Related Tags

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors