Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

$30B

dascpa
Level 11

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.

0 Cheers
5 Comments 5
dascpa
Level 11

Correction, i misread. $3 billion, not $30.  Upfront $300 million.

0 Cheers
qbteachmt
Level 15

"$3 billion, not $30"

Well, there you go, then. That's one less digit to fit in, when you prepare those forms manually.

*******************************
Don't yell at us; we're volunteers
TaxGuyBill
Level 15

@dascpa wrote:

Correction, i misread. $3 billion, not $30.  Upfront $300 million.


 

Only $3 billion?  I don't think that was even worthwhile.  😂

dascpa
Level 11

Found someone at a Big 4 firm to handle this.  I would have but ProSeries can't handle that many digits.

garman22
Level 13
Level 13

That is above my paygrade........

0 Cheers