Asset vs. Stock Sales: Weighing Tax Consequences of the Buyer and Seller, Section 338 Elections
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This webinar will compare and contrast the tax consequences of asset and stock sales. Our astute panel of federal income tax experts will provide examples of business sales under both scenarios, outline the reporting responsibilities for asset and stock sales, and point out when an election under Section 338 could benefit a purchaser.
Outline
- Asset vs. stock sales: introduction
- Asset sales
- Stock sales
- Special elections
- Section 338(h)(10)
- Section 338(g)
- Reporting requirements
- Form 8833, Asset Allocation Statement Under Section 338
- Form 8594, Asset Acquisition Statement Under Section 1060
- Other
- Examples
Benefits
The panel will cover these and other critical issues:
- When a purchaser should consider making an election under Section 338(h)(10)
- Completing Form 8594, Asset Acquisition Statement Under Section 1060
- Tax calculations contrasting asset and stock sales from the seller's and purchaser's perspectives
- The impact of depreciation recapture on a sale of assets
Faculty

Mark Gallegos, CPA, MST
Partner
Porte Brown
Mr. Gallegos, CPA, MST, is a tax partner on Porte Brown’s accounting and consulting services team in... | Read More
Mr. Gallegos, CPA, MST, is a tax partner on Porte Brown’s accounting and consulting services team in the Elgin, Illinois, office. With over 20 years of experience, he has become a trusted advisor in the areas of taxation, specializing in mergers & acquisitions, international tax, and tax credits and incentives. Mr. Gallegos expertise is anchored in a deep understanding of complex tax legislation and the evolving regulatory landscape. He is a prolific speaker and writer, frequently hosting webinars and delivering presentations on tax legislation and related topics. Mr. Gallegos is a frequently sought-after public speaker, known for his insightful commentary and his deep understanding of our complex tax legislation. He has served as an expert contributor to global media outlets such as Wall Street Journal, CNN, USA Today, Washington Post, Bloomberg, FOX News, Tax Advisor, as well as many local news publications, industry podcasts, and news radio broadcasts.
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Joseph C. Mandarino
Partner
Smith Gambrell & Russell
Mr. Mandarino's practice focuses on corporate, tax and finance law. He is involved with a wide variety of... | Read More
Mr. Mandarino's practice focuses on corporate, tax and finance law. He is involved with a wide variety of businesses and transactions, including experience with compliance, planning and M&A activities for partnerships, individuals and corporations. Mr. Mandarino’s practice also includes representation in tax controversy work. He writes and speaks extensively on a wide range of business, tax and finance topics.
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