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<I'm figuring 20% capital gains tax (the stock has been
held for 24 months).

So, we sell the stock.

$1m - 20% = 800k (to invest).

True?>

If the stock is worth $1 million, you could even subtract the cost-basis from that and pay 20% tax on the difference. I forgot that it was in stock. I thunk someone just dropped the megabuck on him.
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