14

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School

CUNY Borough of Manhattan Community College *

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Course

330

Subject

Finance

Date

Jan 9, 2024

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docx

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Uploaded by fifoeliverta

Question 14 1 out of 1 points Mike was awarded 1,000 shares of restricted stock of B Corp at a time when the stock price was $14. Assume Mike properly makes an 83(b) election at the date of the award. The stock vests 2 years later on December 17, 2023 and at a price of $16. Mike sells the shares on December 31, 2023 for $20/share. What are Mike's tax consequences in the year he makes the sale? Selected Answer: @ 1. Mike has a long-term capital gain of $6,000 Answers: @ 1. Mike has a long-term capital gain of $6,000 2. None of the above 3. Mike has W-2 income of $6,000. 4. Mike has a short-term capital gain of $6,000.

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