pk
Level 15
Level 15

Deductions & credits

@roalddahl14 , there is no short-term capital gain -- you just pay ordinary income rate.  Only assets held over one year get Capital  tax rate  ( for most people it is zero or 15% , based on your other income ).

 

One way to see the impact ( very roughly )  and assuming that you are doing your return on widows downloaded / CD version, is  to  (a) open your filed return and  then save it under a different  name.  This will result in your original return saved with original name and a new one with a new name and usually open.   (b) now go through the  return and  add  a dummy 1099-B ---- using your  warrant price as  "Basis" and the selling / FMV as your sales price --- this will show you what happens if you hold  only for short-term and changing dates to make it long-term.  These  what-ifs will give a better directional figures  while preserving your confidentiality.   Note here that for trying out  long-term / capital gain scenario, you have to show a buying date  of at least one year before  the selling date  ( Turbo will not allow future dates  i.e. past the current date because you are using the 2023  software ).

 

Hope this helps.

 

Namaste ji

 

pk