If the liabilities the corporation assumes are more than your adjusted basis in the property you transfer, gain is recognized up to the difference. However, if the liabilities assumed give rise to a deduction when paid, such as a trade account payable or interest, no gain is recognized.
Because Aruba was once a Dutch state of sovereignty, the island's official language is Dutch. No need to arrange a translator, however, because both English and Spanish are widely spoken.aps. Papiamento, a wild combination of Dutch, English, French, Portuguese and Spanish, is the language originated in the trio of islands called the ABC islands. This language reflects their open-armed acceptance of other cultures.
I want to go there some day, so I wanted to learn a bit of Dutch but do people speak Dutch more or Papiamento? And are there differences between Holland Dutch and Aruba Dutch. Update: Oh, good, I speak Spanish as a second language and English as a first :D.