§338. Certain stock purchases treated as asset acquisitions — Inbound Citations
26 U.S.C. § 338
Cited by 10 provisions in release 119-102.
Citations to 26 U.S.C. § 338 as a whole
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(B) an election is not made under section 338 with respect to such purchase,
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(ii) subsection (h)(1)(C) for gain recognized by reason of an election under section 338, plus
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(C) If an election under section 338 is made in connection with an ownership change and the net unrealized built-in gain is zero by reason of paragraph (3)(B), then, with respect to such change, the section 382 limitation for the post-change year in which gain is recognized by reason of such election shall be increased by the lesser of—(i) the recognized built-in gains by reason of such election, or(ii) the net unrealized built-in gain (determined without regard to paragraph (3)(B)).
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(2) The deemed purchase price shall be allocated among the assets of Conrail in accordance with the temporary regulations prescribed under section 338 of title 26 (as such regulations were in effect on October 21, 1986). The Secretary shall establish specific guidelines for carrying out the preceding sentence so that the basis of each asset will be clearly ascertainable. For purposes of applying the regulations referred to in the first sentence, accounts receivable and materials and supplies shall be treated as cash equivalents.
Citations to §338(a)
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(A) a qualified stock purchase (as defined in section 338(d)(3)) to which section 338(a) applies,
Citations to §338(b)(5)
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(a) In the case of any applicable asset acquisition, for purposes of determining both—(1) the transferee’s basis in such assets, and(2) the gain or loss of the transferor with respect to such acquisition,the consideration received for such assets shall be allocated among such assets acquired in such acquisition in the same manner as amounts are allocated to assets under section 338(b)(5). If in connection with an applicable asset acquisition, the transferee and transferor agree in writing as to the allocation of any consideration, or as to the fair market value of any of the assets, such agreement shall be binding on both the transferee and transferor unless the Secretary determines that such allocation (or fair market value) is not appropriate.
Citations to §338(d)(3)
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(A) a qualified stock purchase (as defined in section 338(d)(3)) to which section 338(a) applies,
Citations to §338(h)(2)
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(iii) In the case of a covered asset acquisition described in paragraph (2)(A), the covered asset acquisition shall be treated for purposes of this subparagraph as occurring at the close of the acquisition date (as defined in section 338(h)(2)).
Citations to §338(h)(3)
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(4) section 338(h)(3) (defining purchase);
Citations to §338(h)(10)(C)
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(xix) subparagraph (C) of section 338(h)(10) (relating to information required to be furnished to the Secretary in case of elective recognition of gain or loss),