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Section 351 and inventory

Technical topics regarding tax preparation.
#1
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Dear all,

My friend is incorporating and moving all his assets which includes his inventory from his sole proprietorship to corporation.
I'm trying to see if inventory would be considered "property" in section 351.
Thank you for your help.
 

#2
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North Country, USA
Yes , assuming by “inventory” you mean tangible property of the usual sort
 

#3
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HenryDavid wrote:Yes , assuming by “inventory” you mean tangible property of the usual sort


Great! Thank you.
 

#4
Nilodop  
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Or even intangible inventory, such as the digital type. Think off-the-shelf digital movies, books, computer programs.
 

#5
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Nilodop wrote:Or even intangible inventory, such as the digital type. Think off-the-shelf digital movies, books, computer programs.

I see. Thank you.
 


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