### Question
How does the law define qualified stock purchase?


### Answer
Under *26 U.S.C. § 338*, **qualified stock purchase** is defined as:

> any transaction or series of transactions in which stock (meeting the requirements of section 1504(a)(2)) of 1 corporation is acquired by another corporation by purchase during the 12-month acquisition period

#### Citation:
  - *26 U.S.C. § 338*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter C-Corporate Distributions and Adjustments > PART II-CORPORATE LIQUIDATIONS > Subpart B-Effects on Corporation**

