### Question
Can you define what purchase means?


### Answer
**Purchase** is defined as the following in *26 U.S.C. § 1361*:

> any acquisition if the basis of the property acquired is determined under section 1012

#### Citation:
  - *26 U.S.C. § 1361*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter S-Tax Treatment of S Corporations and Their Shareholders > PART I-IN GENERAL**

