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)).
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.