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ISO Exercised and Held in 2021 (Do I need to delete "ISO Purchase Summary" in 2022 tax return?)

Forum|Forum|3 years ago
March 16, 2023
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Hello,

I have exercised and held ISOs in 2021. I have reported them on my 2021 tax return and paid AMT. Now, for 2022 the entry is still there in the "ISO Purchase Summary". So, do I need to delete this entry or do I keep it there until I sell the corresponding ISOs? This also creates a Exercise Stock Options Worksheet in the forms section.

Best answer by DavidD66

You should leave the entry there until you sell some or all of the shares from exercising the ISOs. It will make reporting the sale much easier, from an AMT standpoint.

D

DavidD66Answer

You should leave the entry there until you sell some or all of the shares from exercising the ISOs. It will make reporting the sale much easier, from an AMT standpoint.

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C

cocoa24

If all shares belonged to an entry are sold, do I have to delete the entry? Does it trigger AMT adjustment based on actual gain/loss?

Thanks!

DaveF1006

If I sold all of the ISO shares during the 2023 Tax year (previously included in the "ISO Purchase Summary") , do I delete the "ISO Purchase Summary" entry in the 2023 Tax return? Or only delete it next year?

Yes. If you sold all remaining shares, it is safe to delete the summary.

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