I received a Form 3921. I exercised, but I didn't sell any of them. When I inputted in TT, it raised my tax due by $18K. Do I have to input this form in my tax return?

[xxyllo546]

My understanding was that if we didn't sell stocks, we didn't have to pay taxes on them.  So I'm not sure if I have to input this form on my tax return.  If I do, not sure why Turbotax calculated 18K in Taxes due.  Any help is much appreciated.

[JohnW152]

No, you don’t need to input data from Form 3921 on your return.

Form 3921 is an informational form only. You typically won’t enter information from it on your tax return unless you actually sold the stock, or if you might be subject to alternative minimum tax (AMT).

When you receive Form 3921, that means that your employer transferred stock to you because you exercised an incentive stock option (ISO). Because this is a statutory stock option, there are generally no tax consequences for having exercised the option.

[xxyllo546]

Hi @JohnW152 , thank you for your reply! This makes sense, I will not input Form 3921 into my tax return