Section 1202 focuses on exemptions of capital gains from taxes for certain Qualified Small Business Stock, but what if you incur a loss?
Section 1244 may be an even less well known part of the tax code, and allows a taxpayer to deduct certain qualified small business capital losses against ordinary income.
Let’s delve into the details:
This article does not constitute legal or tax advice. Please consult with your legal or tax advisor with respect to your particular circumstance.