âHastenâ or âspeed upâ, not âfastenâ. If it is a check you wrote on a BofA account to someone else, the issue may be that they have not deposited the check yet. Once deposited, most checks clear in one day as banks use electronic images of the checks, not the actual checks, to clear them.
The transferee. corporation's basis in the property transferred by the transferor in a. Section 351 transaction generally is the same as the transferor's basis, increased by the amount of any gain recognized by the transferor.roup, and the group will own control of Holdco after the transaction. Accordingly, Section 351 will apply to each of A, B, E and F (as to A. and B, the transaction also may qualify as a reorganization under. Section 368(a)(1)(B)).
Partially taxable exchanges: Another section under Section 351 applies to partially taxable exchanges. It is Section 351(b). Valuation of Property and Stock in an Exchange. When you transfer property into a corporation, there are two valuation issues: 1 - The value assigned to the stock you receive from the corporation.he corporation's basis in the property it receives in an exchange for its stock is the same basis you had in the property when transferred (in other words, the corporation takes your basis). Example: 1  If your adjusted basis in the property transferred is $10,000. 2  The corporation's basis in the property is also $10,000.