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Can I claim section 1202 on my taxes, if I purchased QSBS incorporated in 1996, and I purchased in 2000, and we elected to go to a s-corp in 2002, and we sold the company in 2014?
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Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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No, only C corporation stock qualifies a QualifiesSmallBusinessStock. Since this was an S corporation at time of sale, no sec.1202.
Answered on Jun 18th, 2015 at 5:34 AM