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On May 1, year 1, Anna received 6,700 shares of restricted stock from her employer, Jarbal Corporation. On that date, the stock price was
On May 1, year 1, Anna received 6,700 shares of restricted stock from her employer, Jarbal Corporation. On that date, the stock price was $5 per share. On receiving the restricted stock, Anna made an 83(b) election. Anna's restricted shares will all vest on May 1, year 3. After the shares vest, she Intends to sell them immediately to purchase a condo. True to her plan, Anna sold the shares Immediately after they vested. Note: Leave no answers blank. Enter zero if applicable. Required: a. What is Anna's ordinary Income in year 1? b. What is Anna's gain or loss in year 3 if the stock is valued at $1.40 per share on the day the shares vest? c. What is Anna's gain or loss in year 3 if the stock is valued at $8.60 per share on the day the shares vest? d. What is Anna's gain or loss in year 3 if the stock is valued at $5 per share on the day the shares vest? Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D What is Anna's ordinary income in year 1? Ordinary income Required B >
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