Section 1042 Qualified Replacement Property

By Guest H.J. Simpson
September 12, 2001 in Employee Stock Ownership Plans (ESOPs)

https://benefitslink.com/boards/topic/11537-section-1042-qualified-replacement-property/

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Guest H.J. Simpson

Posted September 12, 2001

We have a client who is interested in investing the proceeds from his sale of stock to an ESOP in notes of General Electric Capital Corporation. The client has been advised that GECC paper is no longer "qualified replacement property" (presumably because such notes no longer meet the requirements of Code Section 1042). Does anyone have any relevant information about these GECC notes?

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Section 1042 Qualified Replacement Property

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