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dascpa
Level 11
March 30, 2023
Question

$30B

  • March 30, 2023
  • 1 reply
  • 15 views

Existing client comes in, sold his software company last year to a Fortune 100 company for $30 billion (yes 30B with multiple owners) and not all at one time (incentives to meet).  Went to a QSBS (qualified small business stock) Section 1202 advisory company and confirmed this is tax free but the RSU's, Grants and other may not be.  I'm sitting here totally blown away as this is way over my head   But the only thing I'm thinking about is ProSeries doesn't allow that many digits for input.  Sec 1202 is tax-free up to $10M.

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1 reply

dascpa
dascpaAuthor
Level 11
March 30, 2023

Correction, i misread. $3 billion, not $30.  Upfront $300 million.

qbteachmt
Level 15
March 30, 2023

"$3 billion, not $30"

Well, there you go, then. That's one less digit to fit in, when you prepare those forms manually.

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