The share rises from 50 percent at three years to 100 at five
What the document says“The applicable percentage under paragraph (1) shall be determined under the following table:”
The section adds a new paragraph (5) to section 1202(a) of the Internal Revenue Code of 1986 setting the applicable percentage at 50 percent for stock held three years, 75 percent for four years, and 100 percent for five years or more.
What the document actually says“The applicable percentage under paragraph (1) shall be determined under the following table:”
The share is set by the table that follows.
At three years half the gain is free. At four years it is three quarters. At five years or more all of it is free.
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