Phil and Corporation. Phil exchanges cash and other property for 900 the Philnick Nick shares (90% of the outstanding shares) of Philnick stock. Nick Corporation to form performs accounting services in exchange for 100 shares of Phil and Nick? Philnick Philnick stock worth $10,000. What are the tax consequences
Phil and Nick form Philnick Corporation. Phil exchanges cash and other property for 900 shares (90% of the outstanding shares) of Philnick stock. Nick performs accounting services in exchange for 100 shares of Philnick stock worth $10,000. What are the tax consequences the Philnick Corporation to Phil and Nick?
Test-Bank-Prentice-Halls-Federal-Tax-2010-23rd-Edition-Pope.docx