In September of 2014,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 7 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

The gain is not recognized because the taxpayer reinvested the proceeds in other qualified small business stock within 45 days of the sale.

In September of 2014,Michelle Sold Shares of Qualified Small Business