• logo-lightlogo-dark

    decipher.legal

    Created by Michael Wessels
    1. U.S. Code
    2. Title 26
    3. Subtitle A
    4. CHAPTER 1
    5. Subchapter O
    6. PART III

    § 1032 Exchange of stock for property

    (a) Nonrecognition of gain or loss

    No gain or loss shall be recognized to a corporation on the receipt of money or other property in exchange for stock (including treasury stock) of such corporation. No gain or loss shall be recognized by a corporation with respect to any lapse or acquisition of an option, or with respect to a securities futures contract (as defined in section 1234B), to buy or sell its stock (including treasury stock).

    (b) Basis

    For basis of property acquired by a corporation in certain exchanges for its stock, see section 362.