Question: What is a substituted basis as it relates to stock received in exchange for property in a 351 transaction? What is the purpose of attaching

What is a substituted basis as it relates to stock received in exchange for property in a §351 transaction? What is the purpose of attaching a substituted basis to stock received in a §351 transaction?

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What is a substituted basis as it relates to stock received in exchange for property in a 351 transaction? What is the purpose of attaching a substituted basis to stock received in a 351 transaction?

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