Thanks.
However, in Canada there is a one-time Canadian small business Capital Gains deduction ~ $1.25M making it essentially tax-free in Canada, how would it be taxed in the US? It's from the sale of a company that's been owned by a relative for years, so treated as Capital Gain here in Canada. Does the US have a similar one-time capital gains deduction or would it end up as straight campital gains in the US?
