A married person filing alone gets half the cap
What the document says“paragraph (4)(A) shall be applied by substituting `$5,000,000' for `$10,000,000', and”
The section rewrites section 1202(b)(3)(A) of the Internal Revenue Code of 1986 so that on a separate return by a married individual the $10,000,000 limit reads $5,000,000 and the limit for newer stock is halved. Those amendments apply to taxable years beginning after enactment.
What the document actually says“paragraph (4)(A) shall be applied by substituting `$5,000,000' for `$10,000,000', and”
On a separate return one figure is halved. It reads $5 million rather than $10 million.
The cap for newer stock is halved too. So each spouse gets half the limit. That only applies where they file apart.
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