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I worked with another guy on a startup in 2015 for about a month. I am no longer at the startup but I agreed to fork over my intellectual property developed during that time in exchange for 10,000 shares of stock with fair market value of $0.10

Do I need to file anything with the IRS to establish my basis & get the capital gains clock running?

These are not ISOs or RSUs which is confounding my ability to google the answer. This is stock in a private company. I am not vesting it, it was an outright purchase.

I have not received any tax documents from the company.

  • No documents = no purchase. – Peter K. Apr 2 '16 at 11:18
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    I have a stock purchase agreement, but I have nothing like Form 3921 which I have filed in the past when exercising ISOs. – John Shedletsky Apr 2 '16 at 17:17
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You have not made capital gains yet, not until you sell or otherwise dispose of the stock. Keep the documents establishing your purchase of the shares and the fair market value at the time. Then, when you dispose of the shares, you will fill out the information as a capital gain (or loss) on your taxes and you'll have the documentation on hand to (a) help you remember enough to fill out the forms accurately and (b) back you up in the event of an audit.

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