Stock Options

[S T]

I have a t/p that received a LTIP (Long Term Incentive Plan) which is indicated in box 14 and included in box 1 wages. The company exercised stock shares that were granted in 2005 and sold 2008. Exercised and sold same day.

Question, since exercised and sold same day, would not be subject to AMT?

Thanks,

Sandy

[Burke]

No. See IRS Pub.
"If you acquired stock by exercising an ISO and you disposed of that stock in the same year, the tax treatment under the regular tax and the AMT is the same, and no adjustment is required."

[S T]

Thanks

Thanks Burke, I was hoping this was the case, but was confused with the term LTIP rather than using ISO.

Glad this one is behind me!

Sandy