Federal · Title 26 — Internal Revenue Code
26 U.S.C. § 1032: Exchange of stock for property
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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). For basis of property acquired by a corporation in certain exchanges for its stock, see section 362.
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