I just exercised some ISO stock option by buying and holding the stocks. I have not sold any of the stocks yet. Do I need to report to IRS now about the exercise?
I understand at the end of the year I need to report it on 1040 for AMT calculation. I just don't know if there something I need to file right away, say within 30 days of my exercise.
2007-02-17 18:29:47 · 3 answers · asked by Ken L 1 in Business & Finance ➔ Taxes ➔ United States
You are talking about a section 83(b) election. Your employer should be able to help you with this.
2007-02-17 22:39:31 · answer #1 · answered by waggy_33 6 · 0⤊ 0⤋
You could exercise the options and hold the stock for a year to get the long term capital gain break. If the new firm is solid roll the old stock into the new. Or, you might split it up and do a half rollover and half exercise the option scenario. With the democrats and their tax and destroy deathwish the capital gain deferral may not be there much longer. They believe that if we send the money to washington they can spend it much more wisely than the low life taxpaying scum who sweat and toil to earn it in the first place.
2016-05-24 00:59:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes, there is a form you must file within a specified time. Sorry I do not know the number.
2007-02-17 18:35:01 · answer #3 · answered by Ron H 6 · 0⤊ 0⤋