Qualified small business stock. Beginning in 1998, you may be able to exclude one-half of your gain from the sale or exchange of qualified small business stock. This applies only to stock originally issued after August 10, 1993, and held by you for more than 5 years. For more information, see Gains on Qualified Small Business Stock in chapter 4 of Publication 550.

Important Reminder

Foreign-source income. If you are a U.S. citizen with investment income from sources outside the United States (foreign income), you must report all that income on your tax return unless it is exempt by U.S. law. This is true whether you reside inside or outside the United States and whether or not you receive a Form 1099 from the foreign payer.

Previous | First | Next

Publication 17 | 1998 Tax Year Archives | Tax Help Archives | Home