meh

[textualdeviance]

All you bastards out there cooking crank in bathtubs, fuck you very much. I apparently can't get regular sudafed late evenings at Freddy's because the damned pharmacy counter is closed.

*loads up on Advil cold and sinus instead*

In other news, the chorus is coming along swimmingly, although the absence of one rather ill mrdorbin was very greatly felt. The acoustics in Pilgrim are 3000% better than that dead, carpeted room at Unity and that corrects a multitude of sins. I think we'll be in decent shape tomorrow, and probably even better next weekend.

Oh, and the IRS is auditing us because they think we owe them $28k for non-reported stock sales in 2003 (this despite the fact that the sales in question were taxed automatically.) Um. Oookay. Just the headache I need. *smites stoopid citigroup people*

Time to go sleep this day off.

Comments

[iolanthe-rosa.livejournal.com]

My husband's the tax expert, but it seems to me you get double-taxed on stock sales: you pay the alternative minimum tax up front, then later you have to pay either income tax on it, or maybe it's a capital gains tax if you made a profit. Or maybe the AMT is for options only. Um. The one and only year we ever hired an accountant was a year when I was exercising options, buying and selling stock from one company AND was an insider at a company where I was exercising options and buying and selling stock. Official insidership sucks.

I like being a low-level paralegal! I feel like if I even get a paycheck now.

[textualdeviance.livejournal.com]

These options work a bit differently than most stock, though. There's a buy price (the cost of exercise) and then tax gets taken from there. Since it's bought and sold the same day, there's no capital gain (or loss) like there would be if the stock were actually held and then sold.

We've sold options like this virtually every year for the past 8 years, and this is the first time it's been an issue. Like fenchurche says, it's probably just that the IRS software doesn't understand that the options in question have already been counted.