Generally, no. Although there are some very limited exceptions, generally speaking, only shares purchased directly from the issuing corporation can qualify for QSBS status. Shares—even shares that are originally QSBS—acquired from any person besides the issuing corporation typically do not qualify (subject to only certain very limited exceptions).
This may be particularly important to investors purchasing shares from founders, early employees or early investors.
This may also be important for any person who holds QSBS and wants to transfer their shares for estate-planning purposes. It is important to structure any such transaction in a way that avoids the shares losing their QSBS status.
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