Joined: 06 Mar 2007 Location: United States
Online Status: Offline Posts: 3
Posted: 09 May 2012 at 09:32 | IP Logged
I have a client who acquired a shell corporation from a family member. The corporation had a few farming assets left. He transferred his equipment from his Schedule F into the corporation. No stock was issued in exchange. I posted the net equity to additional paid in capital.
Do I need to do a 351 statement to disclose this transaction?
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Topic: Does Section 351 Apply If No Stock Issued
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