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Been retired 7 years, exercised stock options and they withheld FICA & medicare; do I get a refund for these taxes?

 
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Hal_Al
Level 15

Been retired 7 years, exercised stock options and they withheld FICA & medicare; do I get a refund for these taxes?

No. Some exercised stock options are considered compensation and subject to FICA (social security and medicare tax).

See page 7 at http://www.taxwarriors.com/hs-fs/hub/127975/file-17012949-pdf/docs/rl31458.pdf

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3 Replies
Hal_Al
Level 15

Been retired 7 years, exercised stock options and they withheld FICA & medicare; do I get a refund for these taxes?

No. Some exercised stock options are considered compensation and subject to FICA (social security and medicare tax).

See page 7 at http://www.taxwarriors.com/hs-fs/hub/127975/file-17012949-pdf/docs/rl31458.pdf

Been retired 7 years, exercised stock options and they withheld FICA & medicare; do I get a refund for these taxes?

No, FICA & Medicare is your social security withholding - not federal income tax withholding. 

Been retired 7 years, exercised stock options and they withheld FICA & medicare; do I get a refund for these taxes?

To clarify: Qualified stock options are not subject to FICA where Non-Qualified options are.  Presumably the options you exercised were Non-Qualified.

Tom Young

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