Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Stevie recently received 1,055 shares of restricted stock from her employer, Nicks Corporation, when the share price was $10 per share. Stevie's restricted shares vested
Stevie recently received 1,055 shares of restricted stock from her employer, Nicks Corporation, when the share price was $10 per share. Stevie's restricted shares vested three years later when the market price was $13. Stevie held the shares for a little more than a year and sold them when the market price was $14. Assuming Stevie made a section 83(b) election, what is the amount of Stevie's ordinary income with respect to the restricted stock?
Multiple Choice
-
$0.
-
$1,055.
-
$10,550.
-
$13,715
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started