purchase
Defined in 10 places across 2 titles of the United States Code.
Except as otherwise provided in this paragraph, the term “purchase” means any acquisition but only if—
(i) the basis of the property acquired in the hands of the acquirer is not determined (I) in whole or in part by reference to the adjusted basis of such property in the hands of the person from whom acquired, or (II) under section 1014(a), and
(ii) the property is not acquired in an exchange to which section 351, 354, 355, or 356 applies.
Source
- 1994–present26 U.S.C. § 355Internal Revenue Code · Distribution of stock and securities of a controlled corporation · for purposes of this section
For purposes of paragraph (1), the term “purchase” means any acquisition of property, but only if—
(A) the property is not acquired from a person whose relationship to the person acquiring it would result in the disallowance of losses under section 267 or 707(b) (but, in applying section 267(b) and (c) for purposes of this section, paragraph (4) of section 267(c) shall be treated as providing that the family of an individual shall include only his spouse, ancestors, and lineal descendants),
(B) the property is not acquired by one component member of a controlled group from another component member of the same controlled group, and
(C) the basis of the property in the hands of the person acquiring it is not determined—
(i) in whole or in part by reference to the adjusted basis of such property in the hands of the person from whom acquired, or
(ii) under section 1014(a) (relating to property acquired from a decedent).
Source
- 1994–present26 U.S.C. § 179Internal Revenue Code · Election to expense certain depreciable business assets · in this section
For purposes of subparagraph (A), the term “purchase” means any acquisition if the basis of the property acquired is determined under section 1012.
Source
- 1996–present26 U.S.C. § 1361Internal Revenue Code · S corporation defined · under this subtitle
For purposes of this section, the term “purchase” means—
(A) any acquisition of a debt instrument, where
(B) the basis of the debt instrument is not determined in whole or in part by reference to the adjusted basis of such debt instrument in the hands of the person from whom acquired.
Source
- 1994–present26 U.S.C. § 1272Internal Revenue Code · Current inclusion in income of original issue discount · for purposes of this section
For purposes of this subsection, the term “purchase” means—
(A) any acquisition of stock, where
(B) the basis of such stock is not determined in whole or in part by the reference to the adjusted basis of such stock in the hands of the person from whom acquired.
Source
- 2005–present26 U.S.C. § 305Internal Revenue Code · Distributions of stock and stock rights · for purposes of this section
For purposes of this subsection, the term “purchase” means—
(A) any acquisition of stock, where
(B) the basis of such stock is not determined in whole or in part by the reference to the adjusted basis of such stock in the hands of the person from whom acquired.
For special rules—
Source
- 1994–200526 U.S.C. § 305Internal Revenue Code · Distributions of stock and stock rights · for purposes of this section
“purchase” includes taking by mortgage or pledge.
Source
- 1994–present49 U.S.C. § 80101Transportation · Definitions · in this chapter
The term “purchase” has the meaning given such term by section 1272(d)(1).
Source
- 1994–201826 U.S.C. § 1286Internal Revenue Code · Tax treatment of stripped bonds · for purposes of this section
The term “purchase” has the meaning given such term by section 1272(d)(1).1
Source
- 2018–present26 U.S.C. § 1286Internal Revenue Code · Tax treatment of stripped bonds · for purposes of this section
The term “purchase” includes any acquisition of property in an exchange to which section 351 applies to the extent such property is acquired in exchange for—
(i) any cash or cash item,
(ii) any marketable stock or security, or
(iii) any debt of the transferor.
Source
- 1994–present26 U.S.C. § 355Internal Revenue Code · Distribution of stock and securities of a controlled corporation · for purposes of this section
The term “purchase” includes any deemed purchase under subsection (a)(2). The acquisition date for a corporation which is deemed purchased under subsection (a)(2) shall be determined under regulations prescribed by the Secretary.
Source
- 1994–present26 U.S.C. § 338Internal Revenue Code · Certain stock purchases treated as asset acquisitions · for purposes of this section
The term “purchase” means any acquisition, but only if—
(i) the property is not acquired from a person related to the person acquiring such property, and
(ii) the basis of the property in the hands of the person acquiring such property is not determined—
(I) in whole or in part by reference to the adjusted basis of such property in the hands of the person from whom acquired, or
(II) under section 1014(a) (relating to property acquired from a decedent).
Source
- 2008–200926 U.S.C. § 36Internal Revenue Code · Overpayments of tax · for purposes of this section
The term “purchase” means any acquisition, but only if—
(i) the property is not acquired from a person related to the person acquiring such property (or, if married, such individual's spouse), and
(ii) the basis of the property in the hands of the person acquiring such property is not determined—
(I) in whole or in part by reference to the adjusted basis of such property in the hands of the person from whom acquired, or
(II) under section 1014(a) (relating to property acquired from a decedent).
Source
- 2009–present26 U.S.C. § 36Internal Revenue Code · Overpayments of tax · for purposes of this section
The term “purchase” means any acquisition, but only if—
(i) the property is not acquired from a person whose relationship to the person acquiring it would result in the disallowance of losses under section 267 or 707(b) (but, in applying section 267(b) and (c) for purposes of this section, paragraph (4) of section 267(c) shall be treated as providing that the family of an individual shall include only his spouse, ancestors, and lineal descendants), and
(ii) the basis of the property in the hands of the person acquiring it is not determined—
(I) in whole or in part by reference to the adjusted basis of such property in the hands of the person from whom acquired, or
(II) under section 1014(a) (relating to property acquired from a decedent).
Source
- 1997–present26 U.S.C. § 1400CInternal Revenue Code · First-time homebuyer credit for District of Columbia · for purposes of this section
The term “purchase” means any acquisition of stock, but only if—
(i) the basis of the stock in the hands of the purchasing corporation is not determined (I) in whole or in part by reference to the adjusted basis of such stock in the hands of the person from whom acquired, or (II) under section 1014(a) (relating to property acquired from a decedent),
(ii) the stock is not acquired in an exchange to which section 351, 354, 355, or 356 applies and is not acquired in any other transaction described in regulations in which the transferor does not recognize the entire amount of the gain or loss realized on the transaction, and
(iii) the stock is not acquired from a person the ownership of whose stock would, under section 318(a) (other than paragaraph 1 (4) thereof), be attributed to the person acquiring such stock.
Source
- 1994–201826 U.S.C. § 338Internal Revenue Code · Certain stock purchases treated as asset acquisitions · for purposes of this section
The term “purchase” means any acquisition of stock, but only if—
(i) the basis of the stock in the hands of the purchasing corporation is not determined (I) in whole or in part by reference to the adjusted basis of such stock in the hands of the person from whom acquired, or (II) under section 1014(a) (relating to property acquired from a decedent),
(ii) the stock is not acquired in an exchange to which section 351, 354, 355, or 356 applies and is not acquired in any other transaction described in regulations in which the transferor does not recognize the entire amount of the gain or loss realized on the transaction, and
(iii) the stock is not acquired from a person the ownership of whose stock would, under section 318(a) (other than paragraph (4) thereof), be attributed to the person acquiring such stock.
Source
- 2018–present26 U.S.C. § 338Internal Revenue Code · Certain stock purchases treated as asset acquisitions · for purposes of this section