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Jack purchased qualified small business stock in 2002 for $500,000. None of the stock was...

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Accounting

Jack purchased qualified small business stock in 2002 for $500,000. None of the stock was sold in a prior year. In 2016 Jack sold all of his qualified small business stock for a $15 amillion gain. What is the exclusion amount for qualified small business stock? A. $5 million B. $7.5 million, C $10 million D $15 million

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