Chatterjee is an executive with XYZ Corp. In 2016, XYZ gave Chatterjee 1,000 nonqualified stock options, each
Question:
Chatterjee is an executive with XYZ Corp. In 2016, XYZ gave Chatterjee 1,000 nonqualified stock options, each with an option price of $60, when the price of XYZ stock was $80. In 2017 Chatterjee exercised 500 of the stock options, at a time when the price of XYZ stock was $90. As a result of the above, what amount should Chatterjee include in 2017 gross income?
a. $0
b. $15,000
c. $10,000
d. $ 5,000
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Related Book For 
South Western Federal Taxation Individual Income Taxes 2018
ISBN: 9781337385893
41st Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen
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