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The amount of gain eligible for exclusion on the sale of Code Sec. 1202 stock is the greater of (1) $10,000,000 reduced by eligible gain
The amount of gain eligible for exclusion on the sale of Code Sec. 1202 stock is the greater of (1) $10,000,000 reduced by eligible gain taken into account by the taxpayer in prior years or (2) ten times the basis of the stock disposed of during the year.
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