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Sebastian is an employee of XYZ Corporation. XYZ granted Sebastian an incentive stock option on January 1, 2018. The option gave him the right to purchase 1,000 shares of XYZ for $5,000, which was the fair market value of the stock at the time the option was granted. Sebastian exercised his option on February 14, 2020, when the fair market value of the stock was $11,000. He did not sell or dispose of the stock that year.
When he prepares his 2020 return, what amount should Sebastian report as an excess of AMT income over regular tax income on Form 6251, Alternative Minimum Tax - Individuals?
$0
$5,000
$6,000
$11,000
Evaluate the income tax return
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