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.
B. Sec. 351 Transfers Basis of Property Received by Corporation. 1. The corporation s basis in the property received is determined as follows: 2. Figure 1 presents a variety of transactions involving Sec. 351 transfers.Gain computations and basis computations are included. Review these examples carefully.he corporation s basis in the property received is determined as follows: 2. Figure 1 presents a variety of transactions involving Sec. 351 transfers. Gain computations and basis computations are included.
ANALYSIS As described above, if the first transfer were viewed as separate from each of the other transfers, the first transfer would satisfy the technical requirements of a transfer under Â§ 351 because W transfers property to Z in exchange for stock in Z and, immediately after the exchange, W is in control of Z.0-140 is distinguishable. In this case, even though the first transfer is followed by a transfer of the stock received, treating the first transfer as a transfer described in Â§ 351 is not inconsistent with the purposes of Â§ 351.