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Retirement tax questions
Thank you for your information.
I am still in a quandary on how to proceed.
I did not receive form 3921 Exercise of Incentive Stock Option and don't believe I will. I could not acquire a copy of my W2 form. I tried through Boeing HR - they only keep 7 years prior. I could not figure out how to acquire the W2 from the IRS. However, I did find an article from 2004 that talks about the initial Boeing's Sharevalue Trust program which to me indicates that I was taxed on the value of the stock prices that I received in those years. This is the article: https://boeing.mediaroom.com/2004-07-01-Boeing-Employees-to-Receive-Stock-Awards-in-First-Payout-of-...
And in that article, the following paragraph leads me to believe I was already taxed.
Under the trust's rules, a payout could have occurred only if the average of Boeing's high and low stock price on June 30, 2004, exceeded a threshold of approximately $44.00. Yesterday's average was $50.825, so each employee with full participation (all 48 months of the trust's Period 4) will receive a distribution worth approximately $900 before taxes. The estimated total amount of the distribution is more than $142.5 million.
So... my question remains: Should I just give in and have a 0 cost basis and pay taxes on the entire sale of the stock or should I assume that I already paid tax on the value of the stock in the year I received it?
Thanks again