My husband sold some of his company stock (it’s a private company if that makes a difference) during a stock buyback in 2018.
We sold about 160k worth. During the most recent tax season, we were informed we now owe 72k in taxes because of the AMT. (Our accountant also mentioned this was one of the nastiest tax returns he had ever seen.)
We are kicking ourselves in the butt for not consulting an advisor before participating in the buyback. Although we had anticipated owing taxes, we certainly weren’t anticipating owing that much. My husband has taxes taken out of his paycheck and he makes about 150k a year. Should I be seeking a second opinion about the taxes we owe or does this seem about right?
Submitted May 04, 2019 at 11:32AM by DeadBasilPlant http://bit.ly/2IZZUaJ
