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Your unfortunate tax situation is one of the reasons there was talk of adjusting the AMT rules. Unfortunately that hasn't happened.

Actually, adjusting AMT in itself wouldn't help here, since this is "normal" income. The AMT situation for option exercisers is only one place where the tax code requires that you pay tax on money that you don't have (and in this case, will never have).

Thanks for the reply. A coworker in a similar situation saw a tax professional, who suggested to sue the company. I'm still working on affecting the timing of the merger, since the qualifying dates for the worst part of the gain are in just a few weeks.

Bill
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