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    decipher.legal

    Created by Michael Wessels
    1. U.S. Code
    2. Title 26
    3. Subtitle A
    4. CHAPTER 1
    5. Subchapter C
    6. PART II
    7. Subpart A

    § 331 Gain or loss to shareholder in corporate liquidations

    (a) Distributions in complete liquidation treated as exchanges

    Amounts received by a shareholder in a distribution in complete liquidation of a corporation shall be treated as in full payment in exchange for the stock.

    (b) Nonapplication of section 301

    Section 301 (relating to effects on shareholder of distributions of property) shall not apply to any distribution of property (other than a distribution referred to in paragraph (2)(B) of ) in complete liquidation.

    (c) Cross reference

    For general rule for determination of the amount of gain or loss recognized, see section 1001.