Client purchases S-Corporation stock for $1.165M. We wish to use the above referenced IRS Code Section 338(h)(10) to treat the stock purchase as an asset acquisition. The literature is nowhere to be found as to how such a corporate return would be prepared, nor the disclosures which may be necessary to attach to the return. Is it as simple as attaching Form 8023 (to Make an Election under Sec 338) to the form 1120 with the acquired S-Corporations assets listed with a stepped-up basis for depreciation purposes? Inquiring minds need to know, Thx