This year,Jason sold some qualified small business stock that he acquired in 2008.His basis in the stock was $100,000 and he sold it for $400,000,resulting in a $300,000 gain.How much of Jason's gain is taxable?

Question

Quizplus · Accepted Answer

If Jason held the qualified small business stock for more than five years, he may be able to exclude up to 50% of the gain from his taxable income. In this case, 50% of the $300,000 gain would be $150,000, which would be taxable. Therefore, the correct answer is C.

This Year,Jason Sold Some Qualified Small Business Stock That He