Section 1202 QSBS

[Seltzer]

section 1202 QSBS on K-1, how to deduct shown on line 10 as "I" as income but notes state QSBS and to deduct from cap gains.  How on turbo tax after entering K-1 data

[Anonymous_ · Accepted solution]

There is no such code.

I suspect you will have to enter this as Code H and then use Forms Mode (which is not available in the online versions of TurboTax).

You might want to contact Support on Monday.

What is the TurboTax phone number? (intuit.com)

[Seltzer]

There is section 1202...For you to learn  Section 1202 allows a taxpayer (other than a corporation) to exclude 50 percent of certain gain from the sale of qualified small business stock held for more than 5 years.