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.
(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.)
2000—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).
Pub. 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]."
Pub. 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."
| § 1.1032-1 | Disposition by a corporation of its own capital stock |
| § 1.1032-2 | Disposition by a corporation of stock of a controlling corporation in certain triangular reorganizations |
| § 1.1032-3 | Disposition of stock or stock options in certain transactions not qualifying under any other nonrecognition provision |
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