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John purchased qualified small business stock for $200,000 in 2008 and sold the stock in 2020 for a realized gain of $14 million. What tax
John purchased qualified small business stock for $200,000 in 2008 and sold the stock in 2020 for a realized gain of $14 million.
What tax rate will apply to the gain recognized on the sale? If more than one tax rate, state the amount of gain which will apply at each level.( answer includes gain taxed at 28%,15/20% and exclusion at 50%)
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