As a Result of a 338 Election, the IRS Treats

question 120

True/False

As a result of a 338 election, the IRS treats the purchase of target shares as a taxable purchase of assets which can be stepped up to fair market value. Only the buyer has to agree to the 338 election.

---

Definitions:

Operant Conditioning

A learning process through which behavior is shaped by reinforcement or punishment.

Latent Learning

A type of learning that occurs without any obvious reinforcement of the behavior or associations that are learned.

Learning/Performance Distinction

Referring to the observation that learning can take place without actual performance of the learned behavior.

Innate Performance Preference

A natural tendency or predisposition to favor certain behaviors or skills without prior learning or experience.