Shares of qualified small business corporation

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Rey Salazar sold his shares of a qualified small business corporation. Rey's shares had an aggregate fair market value of $620,000 at the sale date of December 31. Rey's total adjusted cost base of all the shares owned is $4,000. During the year, Rey also claimed a business investment loss of $25,000. He has never used any of his lifetime capital gains exemption of $913,630 or had a cumulative net investment loss balance. What is the amount of the capital gains deduction available for Rey to use against his taxable income?

Reference no: EM133513418

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