3/20    My company allows us to purchase options that aren't vested yet.
        So I purchased all four year's worth in 1999.  So now I owe AMT.
        My question is, do I have to report only the vested and exercised
        shares by 12/31/99 or do I have to report all my shares even the
        unvested ones?  It sounds stupid if I have to pay AMT even on
        shares I don't technically own yet.
        \_ You must report all exercised shares. (Exercised means you
           purchased them whether they've vested or not) You only have to
           pay the spread between the current stock option price and the
           price *granted* to you. (Assuming this is a private company)
           Although it does sound stupid, the reason why you would do this
           is because if you purchase your stocks immediately at the
           grant price when it is the *same* as the purchase price, you
           won't have to pay AMT. (You'll still have to pay capital gains,
           however) --chucky
           \_ If I read this, you also won't get the primary benefit of
              options--that is your option to buy at a certain price is unused
              if you buy the stock at the fair market value, since that's what
              every other trader is buying the stock for.