A Stock Acquisition That Is Not Treated as a Purchase

question 56

Multiple Choice

A stock acquisition that is not treated as a purchase for purposes of meeting the Sec. 338 rules is

• A)stock whose adjusted basis is determined by its basis in the hands of the person from whom it was acquired.
• B)stock acquired from a decedent.
• C)stock acquired in a tax-free reorganization.
• D)All of the above are correct.

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Definitions:

Negligence

The omission to do something that a reasonable person, guided by those considerations that ordinarily regulate human affairs, would do, or doing something that a prudent and reasonable person would not do.

False Imprisonment

A legal claim involving the wrongful detention of an individual without their consent.

Legal Authority

The right granted to a body or individual to make enforceable legal decisions and judgements.

Intentional Confinement

The deliberate act of restricting a person’s movements or freedom without lawful authority.