Joseph received 5,000 shares of restricted (common) stock from his employer on July 1, 2018. The terms of the restricted stock grant are such that if Joseph is still employed by Alternative Energy on July 1, 2022 the entire 5,000 shares will vest and become his property. Joseph, upon the advice of his tax advisor, prepared and filed an IRC Section 83(b) election on July 8, 2018. On July 1, 2018, the shares were valued at $5 per share. Joseph estimates the value of the shares in five years will be at least $150 per share. Joseph notified Alternative Energy about the IRC Section 83(b) election in a timely manner. None of the income tax consequences of this restricted stock grant was included in the $178,325 reported as part of Josephs gross wages (see above), so if Joseph has a 2018 tax consequence from the granting or 83(b) election, he will report it as other income.

What would be reported on the 2018 Tax return and where would it be reported in the tax return?