This year, Jonathan sold some qualified small business stock that he acquired in December 2010. His basis in the stock was $100,000 and he sold it for a $300,000 gain. How much of Jason's gain is taxable?

Question

Quizplus · Accepted Answer

Jonathan's gain is not taxable because he held the qualified small business stock for more than five years, allowing him to exclude 100% of the gain under Section 1202 of the Internal Revenue Code.

This Year, Jonathan Sold Some Qualified Small Business Stock That