Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Colin Cody who wrote (467)	1/16/1998 4:10:00 PM
From: Ira Player	Read Replies (1) of 5810

Colin, Question about ISO's (Incentive Stock Options) and Alt Min Tax. If ISO's are excercised in 1997 and held into 1998, the spread is a preference item for Alt Min Tax. If, for example, you have "Normal" tax of $10000, Alt Min Tax of $12000 ($2000 more than "Normal"). Alt Min tax without the ISO would have been $8000. What is the credit you can carry forward? I think $2000. (not $4000) Is this correct? How must it be documented? How is it recaptured? Ira

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