In the June 8, 1990, issue of Agricultural Law Digest, we discussed a 1989 amendment specifying that, with some exceptions, for transfers after October 2, 1989, debt securities issued as part of a tax free exchange are treated as boot. Gain is recognized to the extent of boot received by the transferor.
Harl, Neil E.
"Tax Free Incorporation–II,"
Agricultural Law Digest: Vol. 1
, Article 1.
Available at: https://lib.dr.iastate.edu/aglawdigest/vol1/iss16/1