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Business, 02.12.2019 19:30 jessicad1198

On july 2, 2016, black corporation sold 1,000 of its common shares (worth $14 per share) to earl, an employee, for $5 per share. the sale was subject to earl’s agreement to resell the shares to the corporation for $5 per share if his employment is terminated within the following four years. the shares had a value of $24 per share on july 2, 2020. earl sells the shares for $31 per share on september 16, 2020. no special election under § 83(b) is made. what amount, if any, is taxed to earl on july 2, 2016?

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On july 2, 2016, black corporation sold 1,000 of its common shares (worth $14 per share) to earl, an...
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