(a) Property For purposes of this part, the term “property” means money, securities, and any other property; except that such term does not include stock in the corporation making the distribution (or rights to acquire such stock).
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(b) Redemption of stock For purposes of this part, stock shall be treated as redeemed by a corporation if the corporation acquires its stock from a shareholder in exchange for property, whether or not the stock so acquired is cancelled, retired, or held as treasury stock.
Cases: H.J. Heinz Co. v. United States, 76 Fed. Cl. 570 (Fed. Cl. 2007)