Existing client comes in, sold his software company last year to a Fortune 100 company for $30 billion (yes 30B with multiple owners) and not all at one time (incentives to meet). Went to a QSBS (qualified small business stock) Section 1202 advisory company and confirmed this is tax free but the RSU's, Grants and other may not be. I'm sitting here totally blown away as this is way over my head But the only thing I'm thinking about is ProSeries doesn't allow that many digits for input. Sec 1202 is tax-free up to $10M.
Correction, i misread. $3 billion, not $30. Upfront $300 million.
"$3 billion, not $30"
Well, there you go, then. That's one less digit to fit in, when you prepare those forms manually.
@dascpa wrote:
Correction, i misread. $3 billion, not $30. Upfront $300 million.
Only $3 billion? I don't think that was even worthwhile. 😂
That is above my paygrade........
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