Long Term Capital Gain?

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  • Sherill
    Member
    • Feb 2006
    • 39
    #1

    Long Term Capital Gain?

    One brother bought out another bro in the family business. Bro was paid $143K for his stock from the Accounts Receivable. Is this a full var-l capital gain??
    No verification of this transaction is written on paper???
    Tags: None
    • rosieea
      Senior Member
      • Jan 2006
      • 270
      #2
      It probably is long-term capital gain for the seller. Is this a Corporation? If so, the bro didn't buy anything. The Corp did. i.e., Treasury Stock.

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