Philip and Suzie Levi purchased Section 1202 (qualified small business) stock for $52,000 back in 2007. The
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Philip and Suzie Levi purchased Section 1202 (qualified small business) stock for $52,000 back in 2007. The Levis sold the stock in 2014 for $235,000. The Levis’ realized and recognized gain on the sale is:
a. $183,000 and $45,750, respectively.
b. $91,500 and $0, respectively.
c. $183,000 and $91,500, respectively.
d. $100,000 and $50,000, respectively.
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Related Book For
Essentials Of Federal Income Taxation For Individuals And Business
ISBN: 9780808038009
15th Edition
Authors: Linda M. Johnson
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