dcline99
New Member

Paid AMT for ISO in 2016, sold in 2017. How do I get credit for AMT I paid in 2016 as broker's 1099-B does not pay attention to exercise price, only grant price?

Need help on ISOs. Exercised ISO in 2016, paid AMT. Sold in 2017 (over 1 year later). Brokers 1099-B shows full spread between exercise price and sale price. How do I get credit for the AMT I already paid? To make it concrete, let's say that in 2016, I exercised 10000 shares when the stock was at $55, the option was granted at $5, so I paid AMT on $50/share (ouch). I held those shares for over a year and sold them in 2017 for $70/share. I was taxed at 28% on the exercise in 2016 (AMT rate) and I don't see where I can get credit for that and change the basis. Based on the 1099-B import from the broker, TT wants me to pay long term capital gains on $65/share (sale less grant price) even though I already paid AMT on most of that."