Discussion
Create a scenario where the transfer of property to a controlled corporation under Section 351 of the Internal Revenue Code (IRC) results in the taxation to the transferor. Speculate as to the reasons that gain treatment in the current year may be preferred to the deferral of gain. Provide a tax-planning strategy to prevent taxation of similar transfers.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.