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How much does colin report as ordinary income from

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Question: On January 15, 2020, Colin exercised an incentive stock option (ISO) granted to him by his employer. His option enabled him to purchase 1,000 shares of stock for $10 per share. When he exercised his option, the stock was trading at $15 per share. Colin sold the stock at a gain six months later, when the stock was trading at $22 per share. How much does Colin report as ordinary income from compensation as a result of this transaction?

Reference no: EM133553257

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