True/False
Jackson sells qualifying small business stock for $125,000 (adjusted basis of $105,000) in 2019 (the stock was acquired in 2012).In calculating gross income for regular income tax purposes, he excludes all of his realized gain of
$20,000.The $20,000 exclusion is a preference in calculating Jackson's AMTI.
Correct Answer:
Verified
Correct Answer:
Verified
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