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For those who know more about US taxes

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walterc Member Profile
 
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walterc   Thursday, 11/25/21 04:52:20 AM
Re: Aimless Blade post# 84809
Post # of 85472 
For those who know more about US taxes , the Zelibor transaction is not necessarily a sale of shares ; It could be but it could also be a cashless transaction where Tom has to pay the taxes afterwards and did not sell any shares but gave up a portion of the shares . The confusion is that also a cashless transaction is reported as a sale on form 4 whereas no shares are sold.
I am probably not good in explaining accurately the transaction but US tax experts should be better in explaining this.

I know the same thing happened at one of my other start ups . I investigated it then and found out there was no sale.

So the transaction could mean two things.

1)Tom paid for the 500000 warrants conversions and sold part of the shares which he received to pay off the taxes ( so in this case there is a sale)

or
2) Tom opted for a cashless transaction where he got only a portion of the shares and gave up the remaining but then then will pay the taxes out of his own pocket on the profit made..

Both transactions are shown as a sale but in reality there is no sale in the second example .

I think he can also play with the tax tariffs depending what he does with the shares but I do not remember anymore how that works.


Just to say this is not abnormal at all and certainly not if he opted for option 2..

Sorry if it is not entirely clear but I am 24 years out of the profession.

If I was Tom I would have done the same..

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