Predecessor corporation. For pur- poses of section 1374(c)(1), if the basis of an asset of the S corporation is de- termined (in whole or in part) by ref- erence to the basis of the asset (or any other property) in the hands of another corporation, the other corporation is a predecessor corporation of the S cor- poration. [T.D. 8579, 59 FR 66463, Dec. 27, 1994] (a) In general. An S corporation’s net recognized built-in gain for any taxable year is the least of—
Appears in 6 contracts
Samples: Supplemental Contract, Publishing Agreement, Supplemental Contract
