Title 26-Internal Revenue (This book contains Part 1, §§ 1.301 to 1.400) Part CHAPTER I-Internal Revenue Service, Department of the Treasury (Con CHAPTER I-INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (Continued) (Part 1, §§ 1.301 to 1.400) Part 1 SUBCHAPTER A-INCOME TAX Income tax; taxable years beginning after December 31, 1953 (Continued) Supplementary Publication: Internal Revenue Service Looseleaf Regulations System. Additional supplementary publications are issued covering Alcohol and Tobacco Tax Regulations, and Regulations Under Tax Conventions. SUBCHAPTER A-INCOME TAX (Continued) PART 1-INCOME TAX; TAXABLE YEARS BEGINNING AFTER DECEMBER 31, 1953 (Continued) Sec. Normal Taxes and Surtaxes (Continued) CORPORATE DISTRIBUTIONS AND ADJUSTMENTS DISTRIBUTIONS BY CORPORATIONS EFFECTS ON RECIPIENTS 1.301 Statutory provisions; distributions of property. 1.301-1 Rules applicable with respect to distributions of money and other property. 1.302 Statutory provisions; distributions in redemption of stock. 1.302-1 1.302-2 General. Redemptions not taxable as dividends. 1.302-3 Substantially disproportionate redemption. 1.302-4 Termination of shareholder's interest. 1.303 Statutory provisions; distributions in redemption of stock to pay death taxes. 1.303-1 1.303-2 1.303-3 General. Requirements. Application of other sections. 1.304 Statutory provisions; redemption through use of related corporations. 1.304-1 General. 1.304-2 Acquisition by related corporation (other than subsidiary). 1.304-3 Acquisition by a subsidiary. 1.305 Statutory provisions; distributions of stock and stock rights. 1.305-1 Stock dividends. 1.305-2 Election of shareholders as to medium of payment. 1.305-3 Distributions in discharge of preference dividends. 1.306 Statutory provisions; dispositions of certain stock. Sec. 1.307 Statutory provisions; basis of stock and stock rights acquired in distributions. 1.307-1 General. 1.307-2 Exception. EFFECTS ON CORPORATION 1.311 Statutory provisions; taxability of corporation on distribution. 1.312 Statutory provisions; effect on earnings and profits. 1.312-1 Adjustment to earnings and profits reflecting distributions by corporations. 1.312-2 Distribution of inventory assets. 1.312-3 Liabilities. 1.312-4 Examples of adjustments provided in section 312(c). 1.312-5 Special rule for partial liquidations and certain redemptions. 1.312-6 Earnings and profits. 1.312-7 Effect on earnings and profits of gain or loss realized after February 28, 1913. 1.312-8 Effect on earnings and profits of receipt of tax-free distributions requiring adjustment or allocation of basis of stock. 1.312-9 Adjustments to earnings and profits reflecting increase in value accrued before March 1, 1913. 1.312-10 Allocation of earnings in certain corporate separations. 1.312-11 Effect on earnings and profits of certain other tax-free exchanges, tax-free distributions, and tax-free transfers from one corporation to another. 1.312-12 Distributions of proceeds of loans guaranteed by the United States. DEFINITIONS; CONSTRUCTIVE OWNERSHIP OF STOCK 1.316 Statutory provisions; dividend defined. 1.318 Statutory provisions; constructive ownership of stock. 1.318-1 Constructive ownership of stock; introduction. 1.318-2 Application of general rules. 1.318-3 Estates, trusts, and options. 1.318-4 Constructive ownership as actual ownership; exceptions. CORPORATE LIQUIDATIONS 1.331 EFFECTS ON RECIPIENTS Statutory provisions; gain or loss to shareholders in corporate liquidations. 1.331-1 Corporate liquidations. 1.332 Statutory provisions; complete liquidations of subsidiaries. 1.332-1 Distributions in liquidation of subsidiary corporation; general. 1.332-2 Requirements for nonrecognition of gain or loss. 1.332-3 Liquidations completed within one taxable year. 1.332-4 Liquidations covering more than one taxable year. 1.332-5 Distributions in liquidation as affecting minority interests. 1.332-6 Records to be kept and information to be filed with return. 1.332-7 Indebtedness of subsidiary to parent. 1.333 Statutory provisions; election as to recognition of gain in certain liquidations. 1.333-1 Corporate liquidations in some one calendar month. 1.333-2 Qualified electing shareholder. 1.333-3 Making and filling of written elections. 1.333-4 Treatment of gain. 1.333-5 Special rule for treatment of gain. 1.333-6 Records to be kept and information to be filed with return. 1.334 Statutory provisions; basis of property received in liquidations. 1.334-1 Basis of property received in liquidations. 1.334-2 Property received in liquidation under section 333. EFFECTS ON CORPORATION 1.336 Statutory provisions; general rule. 1.336-1 General rule on liquidation of corporation. 1.337 Statutory provisions; gain or loss on sales or exchanges in connection with certain liquidations. 1.337-2 Sales or exchanges within the scope of section 337. 1.337-3 Property defined. 1.337-4 Limitation of gain. 1.337-5 Special rule for certain minority shareholders. 1.337-6 Information to be filed. 1.338 Statutory provisions; effect on earnings and profits. COLLAPSIBLE CORPORATIONS; FOREIGN PERSONAL HOLDING COMPANIES 1.341 Statutory provisions; collapsible corporations. 1.341-4 Limitations on application of section. 1.341-5 Application of section. 1.341-6 Exceptions to application of section. 1.342 Statutory provisions; liquidation of certain foreign personal holding companies. 1.351 Statutory provisions; transfer to corporation controlled by transferor. 1.351-1 Transfer to corporation controlled by transferor. 1.351-2 Receipt of property. 1.351-3 Records to be kept and information to be filed. EFFECTS ON SHAREHOLDERS AND SECURITY HOLDERS 1.354 Statutory provisions; exchanges of stock and securities in certain reorganizations. 1.354-1 Exchanges of stock and securities in certain reorganizations. 1.355 Statutory provisions; distribution of stock and securities of a controlled corporation. 1.355-1 Distribution of stock and securities of controlled corporation. 1.355-5 Active conduct of a trade or business. Records to be kept and information to be filed. 1.356 Statutory provisions; receipt of additional consideration. 1.356-1 Receipt of additional consideration in connection with an exchange. 1.356-2 Receipt of additional consideration not in connection with an exchange. 1.356-3 Rules for treatment of securities as "other property". 1.356-4 Exchanges for section 306 stock. 1.356-5 Transactions involving gift or compensation. 1.357 Statutory provisions; assumption of liability. 1.357-1 Assumption of liability. 1.357-2 Liabilities in excess of basis. 1.358 Statutory provisions; basis to distributees. 1.358-1 Basis to distributees. 1.358-2 Allocation of basis among nonrecognition property. 1.358-3 1.358-4 1.361 1.361-1 Treatment of assumption of liabilities. EFFECTS ON CORPORATION Statutory provisions; nonrecognition of gain or loss to corporations. 1.362 Statutory provisions; basis to corporations. 1.362-1 Basis to corporations. 1.362-2 Certain contributions to capital. 1.363 Statutory provisions; effect on earnings and profits. |