{"data":{"id":"us/26-u.s.c.-1032","jurisdiction":"us","citation":"26 U.S.C. § 1032","heading":"Exchange of stock for property","body":"(a) Nonrecognition of gain or lossNo 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) BasisFor basis of property acquired by a corporation in certain exchanges for its stock, see section 362.","path":["Title 26—INTERNAL REVENUE CODE","CHAPTER 1—NORMAL TAXES AND SURTAXES"],"source_url":"https://uscode.house.gov/download/releasepoints/us/pl/119/103/xml_usc26@119-103.zip","current_through":"Public Law 119-103 (09/02/2026)","vintage":"","retrieved_at":"2026-09-10T05:58:25Z","sha256":"55b100a7b4fb902f27915e9c41e8a894995f022f45af84d3a87610043c794425","source_id":"us","stale":true,"prev":"us/26-u.s.c.-1031","next":"us/26-u.s.c.-1033"},"notice":"GroundRules: Original legal text. Not legal advice."}