Cory recently sold his qualified small business stock (acquired in 2016) for $90,000 after holding it for ten years. His basis in the stock is $40,000. Assuming his marginal tax rate is 35 percent, how much tax will he owe on the sale?

Question

Quizplus · Accepted Answer

$-0-. $90,000 - $40,000 = $50,000 realized gain; 100% of the gain on qualified small business stock acquired in 2016 and held for more than five years is exclude

Cory Recently Sold His Qualified Small Business Stock (Acquired in 2016)