Question 6. If Rebecca received 5 shares of nonvoting preferred stock instead of voting common, would she be required to recognize the gain of $2,000?
CORRECT. Question 6N. Which of the following statements is NOT relevant to the conclusion that Rebecca does not recognize gain?
and Sam, as transferors collectively control the corporation.
owns only nonvoting stock.
and Sam collectively own all of the voting stock.
and Sam collectively own all of the nonvoting stock.