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What is the amount of toms income or loss on the sale

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Reference no: EM132990369

Problem 1: Tom recently received 2,040 shares of restricted stock from his employer, Independence Corporation, when the share price was $11 per share. Tom's restricted shares vested three years later when the market price was $15. Tom held the shares for a little more than a year and sold them when the market price was $13. What is the amount of Tom's income or loss on the sale?

Option 1: $0.
Option 2: $2,040 loss.
Option 3: $4,080 gain.
Option 4: $4,080 loss.

Reference no: EM132990369

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