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Timi is selling his (qualified) business for $1,000,000 which he bought for $100,000! With an MTR of 40%, what would Timi owe in taxes? LCGE

Timi is selling his (qualified) business for $1,000,000 which he bought for $100,000! With an MTR of 40%, what would Timi owe in taxes? LCGE is $800k

Timi is selling his (qualified) business for $1,000,000 which he bought for $100,000 ! With an MTR of 40%, what would Timi owe in taxes? LCGE is $800k

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