Mr Cooper Group Inc (COOP)

[cura asada]

Could this also be possible according to 542?


Quote:

Property Exchanged for Stock

If you transfer property (or money and property) to a corporation in exchange for stock in that corporation (other than nonqualified preferred stock, described later), and immediately afterward you are in control of the corporation, the exchange is usually not taxable. This rule applies both to individuals and to groups who transfer property to a corporation. It also applies whether the corporation is being
formed or is already operating. It does not apply in the or following situations.


•?The corporation is an investment company.
•?You transfer the property in a bankruptcy or similar proceeding in exchange for stock used to pay creditors.
•?The stock is received in exchange for the corporations debt (other than a security) or for interest on
the corporation’s debt (including a security) that accrued while you held the debt.

Unquote.

Rule 542 Property exchange for stock