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It truly is my knowledge that NewCo would file their return and suggest in a very disclosure that they're getting a contrary placement into the predecessor entities. Given that the CPA for your 4 predecessor entities, I don’t have visibility into your new entity as that work is completed via A further business additionally I deem that we recorded it the right way. Am I mistaken In this particular regard or could it be Okay for that NewCo to report the phase up when no gain was reported. Just a bit away from my realm of current expertise. Any insight Considerably appreciated. "The toughest point on earth to grasp could be the income tax" - Albert Einstein

In case you have 4 organizations combining do you think you're not searching towards IRC sections that reference mergers, consolidations and acquisitions. If it involves the liquidation of entities and property/liabilities transferred to shareholders (achieve/decline demanded) then a 351 incorporation could be utilized for the new entity. 357 issues can exist in all forms of formation. Comment

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