Complete the following statements regarding qualified small business stock. Enter percents as whole numbers. The holder of
Question:
Complete the following statements regarding qualified small business stock.
Enter percents as whole numbers.
The holder of qualified small business stock acquired after September 27, 2010, may exclude_________ % of any gain from the sale or exchange of such stock. _________ shareholders qualify for the exclusion. To qualify for the exclusion, the taxpayer must have held the stock for more than ______ years and must have acquired the stock as part of ________ . A qualified small business corporation is a C corporation whose aggregate gross assets did not exceed $_________ million on the date the stock was issued and at least _________% of the corporation's assets must be used in the active conduct of one or more qualified trades or businesses.
Concepts in Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher