Question: Additional Topic: How does a corporation depreciate an asset received in a 351 transaction in which no gain or loss is recognized by the transferor

Additional Topic: How does a corporation depreciate an asset received in a 351 transaction in which no gain or loss is recognized by the transferor of the property? Under what circumstances does property received by a corporation in a 351 transaction not receive a carryover basis? What is the reason for this rule

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How does a corporation depreciate an asset received in a 351 transaction in which no gain or loss is recognized by the transferor of the property?

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