The Small Business Jobs Act of 2010 (the "Jobs Act"), which was enacted September 27, 2010, contains a brief window of opportunity for non-corporate taxpayers to purchase Qualified Small Business ("QSB") stock (also known as "section 1202 stock") that, if the taxpayer holds the stock for more than five years, is eligible for a 100 percent exclusion of capital gains from sale. This tax break only applies to QSB stock purchased after September 27, 2010 and before January 1, 2011.
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The exclusion described above has been extended to the end of 2011.