âHastenâ or âspeed upâ, not âfastenâ. If it is a check you wrote on a BofA account to someone else, the issue may be that they have not deposited the check yet. Once deposited, most checks clear in one day as banks use electronic images of the checks, not the actual checks, to clear them.
B. Sec. 351 Transfers Basis of Property Received by Corporation. 1. The corporation s basis in the property received is determined as follows: 2. Figure 1 presents a variety of transactions involving Sec. 351 transfers.Gain computations and basis computations are included. Review these examples carefully.he corporation s basis in the property received is determined as follows: 2. Figure 1 presents a variety of transactions involving Sec. 351 transfers. Gain computations and basis computations are included.
Under current law, if highly appre-ciated property is transferred in a 351/453 transaction, the boot note will trigger more gainupon payment than will a security. Refer to the discussion in the Introduction, regarding thebifurcation approach and the Â§ 453(0(6) approach for a demonstration of this difference.owever, the issue does not arise in all such cases. If the transaction is a singletransfer of assets with stock and notes distributed to the shareholder, the transaction may beviewed as a Â§ 351 transfer with boot and the issue of sale versus nonsale simply does notarise.