An asset sale is the purchase of individual assets and liabilities, whereas a stock sale is the purchase of the owner's shares of a corporation. An "asset sale" refers to the acquisition of individual assets and liabilities.In an asset sale, the buyer's basis for depreciation is the allocated purchase price of the transferred assets. Asset Sale lets buyers choose specific assets and liabilities; Stock Sale doesn't. An asset sale will likely result in a combination of gain taxed at both ordinary and capital gains rates, depending on the nature of the individual assets. Unlike an asset sale, a taxable stock sale does not result in the recognition of taxable income or loss at the corporate level. Learn the tax implications for each type of sale.