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However, the information given does not cover every situation and is not intended to replace the law or change its meaning.We welcome your comments about this publication and your suggestions for future editions. Click on "More Information" and then on "Give us feedback." Or you can write to: We respond to many letters by telephone.Increase this amount by any amount treated as a dividend, plus any gain recognized on the exchange.Decrease this amount by any cash you received, the fair market value of any other property you received, and any loss recognized on the exchange.However, the increase for the gain recognized may be limited.For more information, see section 362 of the Internal Revenue Code.
An LLC can elect to be treated as an association taxable as a corporation by filing Form 8832, Entity Classification Election. If you transfer property (or money and property) to a corporation in exchange for stock in that corporation (other than nonqualified preferred stock, described later), and immediately afterward you are in control of the corporation, the exchange is usually not taxable.
If a disproportionate transfer takes place, it will be treated for tax purposes in accordance with its true nature.