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Old 01-30-2013, 10:10 AM   #32
okoye35chiefs okoye35chiefs is offline
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Join Date: Oct 2012
Location: Death Valley
Casino cash: $955580
the audit surrounds my stock options...

The IRS wants me to claim the option at full sale price like lets say 240 shares at $40.00.

Well it is an option so I only own $24.00 of that not all 40.00!!! So instead of $9,000 I only get $5760 which once taxes are taken it is more like $3000 if you are lucky... (just an example)

So I get this letter saying I owe like 50k and I about flip out...

With my tax guy being a MORON he never filed it all that accurate! WTF..

Needless to say it was a big pain in the ass and you are right... they will audit you a few times after the 1st one...
Posts: 674
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