Not a QSBS. It is just a for profit, privately owned company incorporated in Michigan that has an ESOP plan with its executives. When you terminate employment you sell your shares back to the corporation and receive a 1099B showing the total sales proceeds approximately ($600,000) and the total cost ($200,000). HOWEVER, the Corporation is paying the proceeds to terminated employees via a promissory note monthly over 10 years BUT THE TOTAL AMOUNT IS ON THE 1099B !!! How report the 1099B gain of $400,000 for tax purposes ?
