You would not report the stock options on your tax return until you have sold the stocks. Your purchase is considered to be statutory stock options since the option was granted under an ISO or incentive stock option plan.
You generally don't include any amount in your gross income when you receive or exercise the option. You will have taxable income or deductible loss when you sell the stock you bought by exercising the option. ANy sales would be considered a capital gain or loss.
See this IRS Tax Topic for more information.
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