Internal Revenue Code:Sec. 1036. Stock for stock of same corporation

From TaxAlmanac

Location in Internal Revenue Code

     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle A - Income Taxes
       CHAPTER 1 - NORMAL TAXES AND SURTAXES
        Subchapter O - Gain or Loss on Disposition of Property
         PART III - COMMON NONTAXABLE EXCHANGES
       

Statute

    Sec. 1036. Stock for stock of same corporation
 
    (a) General rule
      No gain or loss shall be recognized if common stock in a
    corporation is exchanged solely for common stock in the same
    corporation, or if preferred stock in a corporation is exchanged
    solely for preferred stock in the same corporation.
    (b) Nonqualified preferred stock not treated as stock
      For purposes of this section, nonqualified preferred stock (as
    defined in section 351(g)(2)) shall be treated as property other
    than stock.
    (c) Cross references
          (1) For rules relating to recognition of gain or loss where
        an exchange is not solely in kind, see subsections (b) and (c)
        of section 1031.
          (2) For rules relating to the basis of property acquired in
        an exchange described in subsection (a), see subsection (d) of
        section 1031.
 

Sources

    (Aug. 16, 1954, ch. 736, 68A Stat. 309; Pub. L. 105-34, title X,
    Sec. 1014(e)(3), Aug. 5, 1997, 111 Stat. 921.)
 

Miscellaneous

                                 AMENDMENTS
      1997 - Subsecs. (b), (c). Pub. L. 105-34 added subsec. (b) and
    redesignated former subsec. (b) as (c).
                      EFFECTIVE DATE OF 1997 AMENDMENT
      Amendment by Pub. L. 105-34 applicable, with certain exceptions,
    to transactions after June 8, 1997, see section 1014(f) of Pub. L.
    105-34, set out as a note under section 351 of this title.
 

References

                   SECTION REFERRED TO IN OTHER SECTIONS
      This section is referred to in sections 83, 424, 1031 of this
    title.