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Level 2
posted Dec 8, 2019 5:25:07 PM

How are gains from the sell of capital gains on the sell of a small business I owned stock in treated on my taxes? How do I know if it is a qualified small business?

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1 Replies
Level 5
Dec 8, 2019 5:41:23 PM

You can treat 50%, 60%, 75% or 100% of the gain as tax-free under section 1202 if you held the stock longer than five years and TT does the math. You can find the qualifications at this link