Zion Oil & Gas Inc (ZNOG)

[docvienna]

That was me. You pay a tax for the conversion, due 4/15/2019. It's based on your current tax rate, so if that is 35%, then 35% of the value moved is due next year for the conversion. If your rate is 25%, then 25% is due. So if you move $20K, you would pay the IRS $2500-3500, depending on tax rate. YOU DO NOT OWE MONEY NOW. Big advantage then is if Zion eventually goes to say $30, you owe NO cap gains for your profits/gains. My financial advisor told me about this.
Of course I would advise you to talk to your accountant, if you use one, for their thoughts too.