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I was given some restricted stock at the end of last year. I can't sell it for a year and a half or so - and it's worthless at this stage in any case. I recently received a 1099 for "non-employee compensation" of $22500 - what the stock was apparently valued at at the time of issuance.

Is this right? to begin with I was never contracted to work for the company issuing the stock (they were a sister company of my employers and as such our company did work for the company that issued me the stock - but I never worked for them as an individual)

It seems wrong that I'm liable for a huge amount of tax on stock I have no opportunity of selling (and didn't want in the first place) - the stock was issued just after we were all laid off - so I had no expectations of the share price going anywhere but down!

Any advice would be greatly appreciated

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