§ 1036. Stock for stock of same corporation

• (a) No gain or loss shall be recognized if common stock in a corporation is exchanged solely for common stock in the same corporation, or if preferred stock in a corporation is exchanged solely for preferred stock in the same corporation.
• (b) For purposes of this section, nonqualified preferred stock (as defined in section 351(g)(2)) shall be treated as property other than stock.
• (c)
  • (1) For rules relating to recognition of gain or loss where an exchange is not solely in kind, see subsections (b) and (c) of section 1031.
  • (2) For rules relating to the basis of property acquired in an exchange described in subsection (a), see subsection (d) of section 1031.