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(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).
For basis of property acquired by a corporation in certain exchanges for its stock, see section 362.
Cite this article: FindLaw.com - 26 U.S.C. § 1032 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 1032. Exchange of stock for property - last updated January 01, 2018 | https://codes.findlaw.com/us/title-26-internal-revenue-code/26-usc-sect-1032/
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