Craig Co. is a domestic small business C corporation which has been actively engaged in a trade or business since its incorporation. Kimberly purchased 100 shares from Craig Co for $20,000 on September 1, 2014. Kimberly sold all the shares for $80,000 on December 15, 2018. How much gain can Kimberly exclude under section 1202?

Answer rating: 100% (QA)

Under section 1202 if the stock is issued beginning the date 2... View the full answer