Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
50 lines
2.9 KiB
Markdown
50 lines
2.9 KiB
Markdown
---
|
||
type: "LegalText"
|
||
title: "26 U.S.C. § 1032"
|
||
description: "Exchange of stock for property"
|
||
jurisdiction: "us"
|
||
corpus: "united_states_code"
|
||
kind: "code_section"
|
||
title_number: 26
|
||
title_name: "INTERNAL REVENUE CODE"
|
||
chapter_number: "1"
|
||
chapter_name: "NORMAL TAXES AND SURTAXES"
|
||
section: "1032"
|
||
citation: "26 U.S.C. § 1032"
|
||
status: "current"
|
||
release_point: "119-100"
|
||
release_date: "2026-06-26"
|
||
source: "official"
|
||
source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
|
||
source_identifier: "/us/usc/t26/s1032"
|
||
source_file: "data/legal/raw/us/code/title-26/usc26.xml"
|
||
source_hash: "49069586bcf948a58db8258910af988be6b7a52ab4d24f2e268d5be77b56076e"
|
||
raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
|
||
text_hash: "6083295bd2829ccba12e1dc9d2a948d829b5b97570e0e98f4f58bf37a92c8ca0"
|
||
retrieved_at: "2026-07-04"
|
||
confidence: "official"
|
||
tags: ["legal", "us-code"]
|
||
---
|
||
|
||
# 26 U.S.C. § 1032 - Exchange of stock for property
|
||
|
||
## Text
|
||
|
||
(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.
|
||
|
||
(Aug. 16, 1954, ch. 736, 68A Stat. 303; Pub. L. 98–369, div. A, title I, § 57(a), July 18, 1984, 98 Stat. 574; Pub. L. 106–554, § 1(a)(7) [title IV, § 401(c)], Dec. 21, 2000, 114 Stat. 2763, 2763A–649.)
|
||
|
||
## Notes
|
||
|
||
Editorial Notes
|
||
|
||
Amendments2000—Subsec. (a). Pub. L. 106–554 inserted “, or with respect to a securities futures contract (as defined in section 1234B),” after “an option” in second sentence. 1984—Subsec. (a). Pub. L. 98–369 inserted provision that no gain or loss shall be recognized by a corporation with respect to any lapse or acquisition of an option to buy or sell its stock (including treasury stock).
|
||
|
||
Statutory Notes and Related Subsidiaries
|
||
|
||
Effective Date of 2000 AmendmentPub. L. 106–554, § 1(a)(7) [title IV, § 401(j)], Dec. 21, 2000, 114 Stat. 2763, 2763A–651, provided that: “The amendments made by this section [enacting section 1234B of this title and amending this section and sections 1091, 1092, 1223, 1233, 1234A, 1256 and 7701 of this title] shall take effect on the date of the enactment of this Act [Dec. 21, 2000].”
|
||
|
||
Effective Date of 1984 AmendmentPub. L. 98–369, div. A, title I, § 57(b), July 18, 1984, 1984, 98 Stat. 574, provided that: “The amendment made by subsection (a) [amending this section] shall apply to options acquired or lapsed after the date of the enactment of this Act [July 18, 1984] in taxable years ending after such date.”
|