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I'm using Ultra tax to enter in a Section 1202 gain and I'm not sure how this is supposed to look on a schedule D. I have a client that purchased qualified stock back in 2005 for $10,000 and sold it for $150,000. I'm thinking that it should be put in such a way to recognize the first $100,000 of gain is eligible for the 50% exclusion. So only $50,000 is subject to tax. Because the client received more than 10x their basis and the last $40,000 of gain is subject to 28%. How does that look on a Schedule D for a 1065 and how is that suppose to look on a K-1?



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