I received an under-payment notice from the IRS for 2005
The issue was my company stock option which I took on
11/07/05. The taxes on the gain were taken out when
exersized, and the realized gain appeared on my w-2 under
box 12a unedr code "v". Let's say the gain was $5,000 on a
stock price of $60 with an option price of $30.
The problem is I have discovered that a 1099-B was issued by
my company indicating the FULL amount of the deal, let's say
Now the IRS wants me to pay taxes on the $15,000 - when my
only gain was $5,000...and of that $5,000, the taxes were
already taken out.
Note, these are classified as non-qualified stock options,
Thoughts? Am I screwed?
Steve The Bluesman