Question: complete the problems listed below relating to biosci corp for...
Complete the problems listed below relating to BIO-SCI Corp for its employee, Jone Lee. For each event of each problem, indicate if this is a taxable event, amount of taxable income and character of the income. Also indicate the starting date for the holding period of the underlying stock. (Note: Ignore AMT for all problems)
1. BIO-SCI issued Stock (without any restrictions) to Jone as follows:
a. July 1, 2013 - Granted 200,000 shares (FMV = $10/share).
b. October 20, 2015 – Sold 50,000 shares of stock (Proceeds = $21/share)