A subsidiary corporation is liquidated at a time when it is indebted to its parent...
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A subsidiary corporation is liquidated at a time when it is indebted to its parent corporation. The subsidiary corporation distributes property to the parent corporation in satisfaction of the indebtedness. If the liquidation is governed by Section neither the subsidiary nor the pare recognizes gain or loss on the transfer of property in the satisfaction of indebtedness, true or false?
A subsidiary corporation is liquidated at a time when it is indebted to its parent corporation. The subsidiary corporation distributes property to the parent corporation in satisfaction of the indebtedness. If the liquidation is governed by Section neither the subsidiary nor the pare recognizes gain or loss on the transfer of property in the satisfaction of indebtedness, true or false?
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