Section 1202 QSBS Checklist
Use this checklist to slow down the planning process, gather the right documents, and make sure the advisor conversation starts with the decisions that matter most.
Checklist
- Gather stock purchase agreements, board consents, cap table records, 409A reports, and company QSBS memos.
- Confirm original issuance, C corporation status, active business facts, gross assets, and holding period.
- Model the greater of the $10M or 10x basis exclusion for each taxpayer.
- Review state conformity before assuming the federal exclusion is the full tax answer.
- Discuss gifting, stacking, trusts, and charitable planning before a transaction becomes binding.
- Build the post-exit cash, tax, estate, and investment plan before proceeds arrive.
What to bring to an advisor
Bring the documents, numbers, deadlines, and unanswered questions that define the planning problem. The best first meeting is not a product conversation. It is a decision map that shows what must happen now, what can wait, and which professionals need to coordinate.
Numbers
Estimated value, basis, debts, taxes, income needs, cash reserves, and any transaction-specific deadlines.
Documents
Tax returns, statements, agreements, letters of intent, entity documents, trust documents, and professional contact information.
Priorities
Privacy, family, lifestyle, charitable, estate, income, and risk preferences that should shape the plan.
Questions
Anything that feels irreversible, unclear, or too expensive to answer after the fact.
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