I assume that he will have to pay capital gains tax on the amount that the coins' value has increased since he and his (now deceased) wife purchased them. However, he does not remember when they bought the coins or what they paid for them. How are the capital gains treated, as income taken all in the year of sale or amortized? When he figures out when he and his wife bought them, how do we find out what they were worth at that time?
The updates to Qualified Small Business Stock rules expand the definition of a small business to include companies with less than $75 million in gross assets, up from the previous $50 million cap. This change allows founders and investors to benefit from tax-free profits much sooner.
