I work for a no name startup. Got 40K illiquid RSUs in paper money that vested in 2021.
Today. I am finding out I need to pay an extra $6K real money on my 2021 return.
I am almost certain the startup will fail and not IPO.
How is this a good deal?
What should my game plan be to avoid this in the future? This is leaving a very bad aftertaste in my mouth.
Do I have to wait for the company to go belly up to claim loss on future tax returns?
I wish I could give back this worthless equity grant.
TC 180K real money + 40K paper money
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Essentially, if you can’t sell something, then it has no value until you sell it, and therefore you shouldn’t be taxed on it.
Are you sure you’re not being taxed on a bonus or something?
That $6k may be because stock vest counts as regular income and during vest there was nothing withheld. Usually portion of stock is auto sold during time of vest and withheld. Maybe yours didn’t auto sell and you received all the stocks in your brokerage.
How is this a good deal?