Title: I&#x27;ve never been able to find a clear explanation of  this, and given Coinbase&#x27;s announcement today I thought it was a good time to learn.<p>So:<p>I get that if I leave my startup today I have 90 days to exercise my options.<p>I get that I&#x27;ll have to pay the agreed &#x27;strike price&#x27;<p>But everything after that is unclear to me.<p>Would I be paying tax as if I&#x27;d made capital gains in the amount of the delta between the strike price and the stock&#x27;s value today? Would the stock&#x27;s value today be based on the company&#x27;s valuation at the most recent round of funding?<p>If the company goes on to raise more VC funding, would I be liable in future years for the &#x27;capital gains&#x27; on this stock?<p>If the company went on to fail, would I be entitled to tax breaks for loss of stock?<p>etc.<p>I&#x27;d love to see a clear explanation of all this stuff from someone who&#x27;s been through it or just knows it. Thanks!
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