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June 4, 2019
Question

I lost my job in 2016 and my company stock was placed with a transfer agent and is currently still with that agent. Will I have to pay tax for 2016 on that stock?

  • June 4, 2019
  • 1 reply
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1 reply

June 4, 2019

If there is a legal way around taxes, I haven't found it.  To Cashout the stocks, usually the govt. requires a certain percentage be taken for taxes.  The value of the stock is considered income and a 1099 will be sent to you.  There are ways to defer taxes to future years, but it will still have to be paid sometime and it increases your chances of the dreaded audit.  Good luck.  Deano