Rollover of gain from qualified small business stock to another qualified small business stock

In the case of any sale of qualified small business stock held by a taxpayer other than a corporation for more than 6 months and with respect to which such taxpayer elects the application of this section, gain from such sale shall be recognized only to the extent that the amount realized on such sale exceeds— For purposes of this section— The term “qualified small business stock” has the meaning given such term by section 1202(c). A taxpayer shall be treated as having purchased any property if, but for paragraph (3), the unadjusted basis of such property in the hands of the taxpayer would be its cost (within the meaning of section 1012). If gain from any sale is not recognized by reason of subsection (a), such gain shall be applied to reduce (in the order acquired) the basis for determining gain or loss of any qualified small business stock which is purchased by the taxpayer during the 60-day period described in subsection (a). For purposes of determining whether the nonrecognition of gain under subsection (a) applies to stock which is sold— Rules similar to the rules of subsections (f), (g), (h), (i), (j), and (k) of section 1202 shall apply.