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rainey3726
New Member

Do I need to amend my return? I received form 3921 after filing, how do I know if I need to amend my return.

We did not sell any stock, just exercised option.  Is it necessary to amend return to enter info from the 3921?

2 Replies
TomYoung
Level 13

Do I need to amend my return? I received form 3921 after filing, how do I know if I need to amend my return.

A Form 3921 is issued when you exercise an ISO.  Any stock purchased via an ISO that is not sold by year end is an AMT adjustment item.  So I'd say "yes" you might need to amend as you said you did not sell the stock acquired via the ISO exercise. 

Enter the Form 3921 information using the "ISO Exercise and Hold" interview.  That will make the AMT adjustment.  If you are not subject to AMT your tax liability will not change and no amendment would be necessary.

Tom Young

Critter
Level 15

Do I need to amend my return? I received form 3921 after filing, how do I know if I need to amend my return.

That form is informational only and is not entered on an income tax return ... you will use this info when you eventually sell the underlying stock. 

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