If they own 51% it is excluded; if they own 50% it is not excluded

If they own 51% it is excluded; if they own 50% it is not excluded

This includes siblings Ripley title loans and cash advance, parents, grandparents and spouses

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If the small business is a partnership where each partner owns exactly half of the business, and the family is one partner and a third party is the other, it does not qualify for the small business exclusion. In order to qualify, the family must own a majority of the business (more than half).Continue reading