This questionnaire will help non-corporate shareholders determine whether any common or preferred stock they hold is qualified small business stock (QSBS) under Internal Revenue Code Sec. 1202. For federal tax purposes, shareholders who sell QSBS are eligible to exclude 50%, 75%, or 100% of the gain they realize, depending on the date the stock was acquired and how long it was held. Note that state tax conformity with these federal QSBS rules varies.
Click here to download the CBIZ Qualified Small Business Stock Questionnaire
If you have any questions or would like to connect with a CBIZ tax adviser to discuss your results, please contact us today.
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