§361 — Nonrecognition of gain or loss to corporations; treatment of distributions

One leading case stated: Although the exact function and scope of the (F) reorganization in the scheme of tax-deferred transactions described in section 368(a)(1) have never been clearly defined, it is apparent from the language of subparagraph (F) that it is distinguishable from the five preceding types of reorganizations as encompassing only the simplest and least significant of corporate changes. The (F)-type reorganization presumes that the surviving corporation is the same corporation as th

Section 357(c)(1) provides: (1) In General.--In the case of an exchange-- (A) to which section 351 applies, or - 8 - (B) to which section 361 applies by reason of a plan of reorganization within the meaning of section 368(a)(1)(D), if the sum of the amount of the liabilities assumed, plus the amount of the liabilities to which the property is subject, exceeds the total of the adjusted basis of the property transferred pursuant to such exchange, then such excess shall be consi

2763, 2847 (amending § 274(a)(1)(B)). FMC reported the nondepreciation deductions for its yacht under section 162(a). (The deductions were reported on Part III, line 1 of the 2008 and 2009 Schedules K–1, Shareholder’s Share of Income, Deductions, Credits, etc.,27 sent to FMC’s shareholders, which reported the shareholders’ pro rata

The trend in the evolution ofthe Tax Court's governing statutes from 1969 to 2015 is clear: Congress has continued to provide authority and design to the Tax Court more like those ofother Federal courts and to distance the Tax Court from any operational or structural similarity to agencies within the executive branch. C. Caselaw Relating

SERVED JAN 3 0 2012 - 2 - FOLEY, Judge: After concessions, the issue for decision is whether petitioners are entitled to a section 361 first-time homebuyer credit relating to 2008.

work Section 361(a) provides that “No gain or loss shall be recognized to a corporation if such corporation is a party to a reorganization and exchanges property, in pursuance of the plan of reorganization, solely for stock or securities in another corporation a party to the reorganization.” Section 368(a)(1) defines reorganization for purposes of section 361 to include: 6In connection with the sale of Clinpath stock, petitioner and NHL executed a consulting agreement, dated Oct.

oration is a party to a reorganization and exchanges property, in pursuance of the plan of reorganization, solely for stock or securities in another corporation a party to the reorganization.” Section 368(a)(1) defines reorganization for purposes of section 361 to include: (D) a transfer by a corporation of all or a part of its assets to another corporation if immediately after the transfer the transferor, or one or more of its shareholders (including persons who were shareholders immediately be

2056(b)(5) in that the Agreement provides that the surviving spouse is not entitled to any trust income upon incompetency.

Section 2056(b) had its origin in section 361 of the Revenue Act of 1948, ch.