LO.3 In 2007, Sanchez exercised an incentive stock option (ISO), acquiring 1,000 shares of stock at a
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LO.3 In 2007, Sanchez exercised an incentive stock option (ISO), acquiring 1,000 shares of stock at a price of $90 per share. The fair market value of the stock on this date was $100 per share. In 2012, the stock rights became freely transferable (i.e., no longer subject to a substantial risk of forfeiture). Sanchez sells the 1,000 shares of stock in 2013 for $135 per share. How do these transactions affect Sanchez’s AMTI for 2007, 2012, and 2013?
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Related Book For 
South Western Federal Taxation 2013 Individual Income Taxes
ISBN: 9781133189558
36th Edition
Authors: William Hoffman, James E. Smith
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