No information statement is required to be filed with the return but records must be maintained to establish a loss and whether the stock qualifies as Section 1244 stock. Capital receipts are the aggregate amounts of money and other property received by the corporation for stock, as a contribution to capital, and as paid-in surplus. This includes amounts received for the Section 1244 stock and for all stock issued previously. The exclusion is denied for any gain from the sale of QSBS if taxpayer or any related person held an offsetting short position with respect to the stock anytime before the five-year holding period requirement is met. The exclusion also is denied where the corporation redeems stock from taxpayer or a related person during certain periods, or buys its own stock in excess of certain amounts during specified periods.
Additional rules apply where pass-through entities hold the stock.
For commodity futures, the holding period is more than six months. This applies to futures transactions in any commodity subject to the rules of a board of trade or commodity exchange. The fastest, easiest way to manage you business. Powered By Sinofusion Inc.