I'm going to be receiving some stock that I purchased through my Employee Stock Purchase Plan (ESPP) soon and I'm wondering how I would go about determining how much I would owe for taxes if I sold all the stock I get. Below is what I believe to be the relevant information but please let me know if I've left anything out:
Initial stock price: $32 My discount: 10% Money I have contributed to the ESPP post tax: $10,000 Current stock price: $55
Based on my calculations I should receive about 346 shares. If I sell these as soon as I get them for $55/share it comes to $19,030. How do I determine what I would owe for taxes on that?