In September of 2017,Michelle sold shares of qualified small business stock for $1,000,000 that had a basis of $200,000.She had held the stock for 17 months.Forty-five days after the sale she purchased other qualified small business stock for $1,100,000.How much of the gain will she recognize?

Question

Quizplus · Accepted Answer

A)If the proceeds from the sale of small business stock held more than 6 months are reinvested in other small business stock within 60 days of the sale,no gain is recognized.

In September of 2017,Michelle Sold Shares of Qualified Small Business