In a taxable asset acquisition, the acquiring corporation recognizes when stock is exchanged for property. In a nontaxable asset reorganization, the acquiring corporation recognizes when stock is exchanged for property.

In a taxable asset acquisition, the acquiring corporation recognizes {no gain or loss} when stock is exchanged for property. In a nontaxable asset reorganization, the acquiring corporation recognizes {gains and losses} when stock is exchanged for property.

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Explanation:

A taxable asset acquisition takes place when a corporation acquires another company and treats the transaction as an asset purchase. The acquiring corporation can elect a Section 338 election which allows the acquiring company to treat this transaction as an asset purchase (property purchase). The acquiring corporation does not have to recognize any gain or loss when it issues stock in exchange for property, regardless of whether a transaction is a tax-free or taxable transaction.

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explanation:

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