njtw
Level 1
‎06-10-2020 03:41 PM

I'm just seeking confirmation that the Section 1202 exclusion of gain on QSBS does NOT apply to sale of stock by a shareholder who PURCHASED the stock from an 'original' owner.

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George4Tacks
Level 15
‎06-10-2020 04:22 PM

Hi there,

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

Cheers!

 


Answers are easy. Questions are hard!
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njtw
Level 1
‎06-10-2020 10:13 PM

This is for one of my clients who is seeking a second opinion. Thanks.

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itonewbie
Level 15
‎06-11-2020 12:30 AM

In your client's case, §1202 will not apply since it was not purchased at its original issue directly or through an underwriter.  See §1202(c)(1).

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