I transferred my software IP to my foreign corporation. Do I need Form 926?
I'm a U.S. person and I recently incorporated a company in Ireland for tax and business reasons. I transferred ownership of my software intellectual property (valued at approximately $2 million based on a recent third-party valuation) to the Irish company in exchange for shares. A friend who went through something similar said I need to file Form 926. Is this correct? What are the consequences of this transfer for U.S. tax purposes?
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