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?
Announcements
Do you have a TurboTax Online account?
We'll help you get started or pick up where you left off.
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?
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?
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
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.