[cpaswag]

Hi , just want to clear a concept here, please help out with example or explanation.

So lets say a Taxpayer contributes a property with a built in loss (AB<FMV) to a corp. 1) what is consequence to corp if they later sell at a gain (like what is character of gain) 2) what is consequence to shareholder if corp later sells at gain 3) what if corp sells property at a loss what is character/consequences then to corp and shareholder?

Thanks