Recommend Our Site to Your Friends!

Print This Page

Date:   Fri, 25 Mar 2005
From:   Jasbir

Hi Mike,

I was granted some stock options in 2000. I exercised the options and the stock is sitting in a brokerage account. I have a letter from the broker saying that I have AMT adjusted income. What do I do with this income?

Jasbir

Answer

Date:   Fri, 08 Apr 2005

Hello Jasbir,

It sounds like you have exercised an incentive stock option. The AMT income is reported on line 13 of Form 6251, Alternative Minimum Tax - Individuals.

You don't seem to have a clue what you are dealing with. Maybe you should hire a professional (like us) to help you.

Good luck!

Mike Gray

For more information about incentive stock options, request our free report, Incentive Stock Options - Executive Tax and Financial Planning Strategies.

IRS Circular 230 Disclosure: As required by U.S. Treasury Regulations, you are hereby advised that any written tax advice contained in this answer was not written or intended to be used (and cannot be used) by any taxpayer for the purpose of avoiding penalties that may be imposed under the U.S. Internal Revenue Code.