Thanks TomD8.
I read the agreement that my company sent me at that time and it says that the subscription price of about XXXX shall be paid from the distributable reserves of the company and shall be entirely allocated to the share capital of the company. However, I did not pay anything to the company at that time. Does that mean that I should have paid tax on XXXX amount at the time that I was granted the shares and sent the 83b election to IRS? If yes, what can be done now?
And now that I have received the money after the sale of the company, I believe I have to pay capital gains on the amount I received minus XXXX. Is that right? Where do i report this income in Turbo Tax? And would this be taxed in the state where I lived when i got this payment or also in my new state?
Thanks for your help,
R
