Get the free Instructions for Forms 3921 and 3922 (Rev. August 2013). Instructions for Forms 3921...

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How to fill out instructions for forms 3921

How to fill out instructions for forms 3921:

1. Gather all necessary information: Before filling out forms 3921, gather all the necessary information such as the employee's name, employer's name, employer's identification number (EIN), the date the stock was transferred, and the exercise price of the stock option.
2. Identify the correct form: Ensure that you have the correct form 3921 for reporting the exercise of an incentive stock option. It is important to use the correct form to accurately report the transaction.
3. Fill out the employee and employer information: Enter the employee's name, address, and social security number in the designated fields. Similarly, provide the employer's information, including their name, address, and EIN.
4. Report the exercise of stock options: Fill in the details of the stock option exercise, including the date of exercise, the number of shares acquired, and the exercise price per share. This information is typically provided by the employer.
5. Calculate and report the spread: The spread is the difference between the fair market value of the stock on the exercise date and the exercise price. Calculate this spread and report it accurately on the form.
6. File and distribute the forms: Once the form is completed, provide copies to the employee and the IRS. Keep a copy for your own records as well. Make sure to file the forms with the IRS by the due date.

Who needs instructions for forms 3921?

1. Employees: Employees who have exercised incentive stock options need instructions for forms 3921 to accurately report the transaction to the IRS.
2. Employers: Employers who have granted incentive stock options to their employees need instructions for forms 3921 to understand their reporting obligations. They may also need to provide instructions to their employees for properly filling out the form.
3. Tax professionals: Tax professionals who assist employees or employers with their tax filings need instructions for forms 3921 to understand the reporting requirements and ensure compliance with the IRS regulations.
4. IRS: The Internal Revenue Service (IRS) also needs instructions for forms 3921 to provide guidance to taxpayers and ensure accurate reporting of incentive stock option exercises.

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