Sec. 317. Other definitions
 
 (a) Property
 For purposes of this part, the term ''property'' means money,
 securities, and any other property; except that such term does not
 include stock in the corporation making the distribution (or rights
 to acquire such stock).
 (b) Redemption of stock
 For purposes of this part, stock shall be treated as redeemed by
 a corporation if the corporation acquires its stock from a
 shareholder in exchange for property, whether or not the stock so
 acquired is cancelled, retired, or held as treasury stock.