As part of the 2010 Small Business Jobs Act, 100% of the gain from the sale of qualified small business stock acquired after September 27, 2010 and before January 1, 2011 (and held for more than five years) is excluded from income. If the stock is not “qualified” small business stock, then 100% of the gain must be reported. In addition, the Act eliminated the alternative minimum tax preference item attributable to that sale. The same legislation also increased certain Section 179 deductions, allowing small businesses to write off the cost of certain expenses including new real estate improvements in the year of acquisition rather than over time through depreciation, and it boosted deductions for other start-up expenditures.