Tax Drill - Qualified Small Business Stock

Complete the following statements regarding qualified small business stock.

Enter percents as whole numbers.

The holder of qualified small business stock acquired after September 27, 2010 may exclude_________ % of any gain from the sale or exchange of such stock. _________ shareholders qualify for the exclusion. To qualify for the exclusion, the taxpayer must have held the stock for more than ______ years and must have acquired the stock as part of ________ . A qualified small business corporation is a C corporation whose aggregate gross assets did not exceed $_________ million on the date the stock was issued and at least _________% of the corporation's assets must be used in the active conduct of one or more qualified trades or businesses.