Question
Christopher regularly invests in tech company stocks, hoping to become wealthy by making an early investment in the next high-tech phenomenon. In 2011, Christopher purchased
Christopher regularly invests in tech company stocks, hoping to become wealthy by making an early investment in the next high-tech phenomenon. In 2011, Christopher purchased 3,000 shares of FlicksNet, a film rental company, for $15 per share shortly after the company went public. Because Christopher purchased the shares in their initial offering, the shares are qualified small business stock. In 2017, Christopher sold 800 of the shares (at $325 per share) so that he could purchase a reservation for a seat on Elon Musks first human mission to Mars.
If an amount is zero, enter "0".
Christopher will include $_______ of the gain realized on sale in his 2017 taxable income. For AMT purposes, $_______ of the gain is an AMT preference.
Fill in the blanks.
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