optionsahoy-mcp

{'type': 'object', 'required': ['shares', 'strike', 'fmv', 'filingStatus', 'ordinaryIncome', 'stateCode', 'horizon', 'grantDate', 'hasLeftCompany'], 'properties': {'fmv': {'type': 'number', 'minimum': 0, 'description': 'Current fair market value per share, USD. Anchors year-1 of the growth path; future years compound from here using expectedGrowth and volatilityDrag. Must come from the user.'}, 'shares': {'type': 'integer', 'minimum': 1, 'description': 'Total Incentive Stock Option (ISO) shares available to exercise across the planning horizon. Must come from the user.'}, 'strike': {'type': 'number', 'minimum': 0, 'description': 'Strike price per share, USD. Must come from the user.'}, 'ticker': {'type': 'string', 'description': 'Optional public-stock symbol (e.g. "NVDA", "AAPL"). When set, the tool substitutes a cached trailing return for any unsupplied expected-return / sale-price field, and the implied vol as of the last close for any unsupplied volatility. Growth and vol come from different sources, so some symbols resolve only one, and a vol that is not current resolves as nothing. A field the ticker cannot resolve falls through to a "required field" error naming that field: pass it explicitly, or (for the growth/return/sale-price field) pass the string "market" for the S&P 500 trailing average; never invent a number. The covered-tickers resource (resources/list) lists which symbols resolve growth.'}, 'horizon': {'type': 'integer', 'maximum': 10, 'minimum': 1, 'description': "Planning horizon in years (1..10). The optimizer searches all feasible per-year share allocations across this many years. The user's choice, not a modelling detail, and it changes the answer: use the value they gave, and if they gave none, ask for it rather than assuming one."}, 'grantDate': {'type': 'string', 'format': 'date', 'description': 'ISO grant date (YYYY-MM-DD). Drives the 10-year statutory grant expiration (IRC §422) and the 2-year qualifying-disposition threshold from grant.'}, 'stateCode': {'enum': ['AK', 'AL', 'AR', 'AZ', 'CA', 'CO', 'CT', 'DC', 'DE', 'FL', 'GA', 'HI', 'IA', 'ID', 'IL', 'IN', 'KS', 'KY', 'LA', 'MA', 'MD', 'ME', 'MI', 'MN', 'MO', 'MS', 'MT', 'NC', 'ND', 'NE', 'NH', 'NJ', 'NM', 'NV', 'NY', 'OH', 'OK', 'OR', 'PA', 'RI', 'SC', 'SD', 'TN', 'TX', 'UT', 'VA', 'VT', 'WA', 'WI', 'WV', 'WY'], 'type': 'string', 'description': 'Two-letter US state code (e.g. CA, NY, TX). Drives state ordinary brackets, state long-term capital gains (LTCG) treatment, and state AMT (CA, CO, CT, MN).'}, 'volatility': {'type': 'number', 'maximum': 5, 'minimum': 0, 'description': 'Annualized volatility (sigma) of the stock as a decimal (0.72 = 72%). Pass the volatility itself, not a pre-computed drag: the tool derives the horizon-cumulative drag internally, and the correct formula is horizon-dependent. This value must come from the user or from a `ticker` that resolves it as of the last market close; if neither supplies it, ask the user rather than estimating one.'}, 'filingStatus': {'enum': ['single', 'married_joint', 'head_household'], 'type': 'string', 'description': 'Federal filing status. Drives the ordinary-bracket walk, the AMT exemption tier ($90,100 single / $140,200 MFJ for 2026), and the AMT exemption phaseout start ($500,000 single / $1,000,000 MFJ).'}, 'cashReturnRate': {'type': 'number', 'description': 'Annual after-tax return on idle cash (decimal), used to time-value the cash-tax stream. 0.05 = 5% (~short-Treasury yield). Optional: defaults to 0.04 (4%, a short-Treasury-like after-tax yield) when omitted, and an explicit value overrides that default. At 0 the math collapses to a nominal sum.'}, 'expectedGrowth': {'type': ['number', 'string'], 'description': 'Annual expected stock growth as a decimal (0.10 = 10%), or the string "market" to use the S&P 500 trailing average when the user has no view. Required unless `ticker` resolves it from trailing CAGR. This tool has no default for it: a value not stated by the user, not resolved by a covered `ticker`, and not the "market" sentinel is outside the input contract.'}, 'hasLeftCompany': {'type': 'boolean', 'description': 'True if the user has separated from the company. Activates the 90-day post-termination ISO exercise window measured from terminationDate.'}, 'ordinaryIncome': {'type': 'number', 'minimum': 0, 'description': 'Annual ordinary income before this exercise, USD. Baseline for the bracket walk and the AMT exemption phaseout. Must come from the user. This is taxable income after deductions, not gross wages: the engine applies no standard or itemized deduction to it.'}, 'volatilityDrag': {'type': 'number', 'maximum': 0.99, 'minimum': 0, 'description': 'Alternative to `volatility`: the multiplicative price haircut already computed for the planning horizon. Supply this OR `volatility` (if both are given, volatilityDrag wins). This field is for a drag figure that already exists from a prior computation; the drag formula is horizon-dependent, so a figure derived for a different horizon does not carry over. Supplying `volatility` instead lets the tool derive it.'}, 'terminationDate': {'oneOf': [{'type': 'string', 'format': 'date'}, {'type': 'null'}], 'description': 'Separation date (YYYY-MM-DD). Required only when hasLeftCompany=true (it drives the 90-day exercise-window deadline); omit it or pass null when still employed. No longer in `required` so the common employed case needs no placeholder.'}, 'carryforwardCredit': {'type': 'number', 'minimum': 0, 'description': 'Existing federal AMT credit (Minimum Tax Credit, Form 8801) carryforward from prior tax years, USD. Recoverable in future years where regular federal tax exceeds tentative minimum tax. Optional; defaults to 0, which is correct for most first-time exercisers. Only a prior-year AMT credit makes it non-zero.'}}}

{'type': 'object', 'required': ['crossoverShares', 'crossoverBargain', 'alreadyInAmt', 'schedules', 'stateHasAmt', 'bargainPerShare', 'timing', 'effectiveHorizon'], 'properties': {'timing': {'type': 'object', 'required': ['grantExpiration', 'qdEligibleDate', 'exerciseWindowClose', 'maxHorizon', 'daysUntilWindowClose', 'windowClosed', 'qdNotYetEligible'], 'properties': {'maxHorizon': {'type': 'integer', 'description': 'Maximum usable planning horizon in years (1..10), capped by grant expiration or the post-termination window.'}, 'windowClosed': {'type': 'boolean', 'description': 'True when the user departed and the 90-day exercise deadline has already passed.'}, 'qdEligibleDate': {'type': 'string', 'description': 'Earliest qualifying-disposition date measured from grant: grantDate + 2 years. ISO 8601 date-time string.'}, 'grantExpiration': {'type': 'string', 'description': 'Grant expiration date: grantDate + 10 years (IRC 422 maximum ISO term). ISO 8601 date-time string.'}, 'qdNotYetEligible': {'type': 'boolean', 'description': 'True when grantDate + 2 years is still in the future (a sale today could not be a qualifying disposition).'}, 'exerciseWindowClose': {'type': ['string', 'null'], 'description': 'Post-termination exercise deadline (terminationDate + 90 days) as an ISO 8601 date-time string; null while still employed.'}, 'daysUntilWindowClose': {'type': ['number', 'null'], 'description': 'Days until the post-termination exercise window closes (can be negative when already past); null while still employed.'}}, 'description': 'Timing constraints derived from grantDate and (when departed) terminationDate.'}, 'schedules': {'type': 'object', 'required': ['lumpSum', 'evenSplit', 'optimized'], 'properties': {'lumpSum': {'type': 'object', 'required': ['label', 'years', 'totalTax', 'baselineRegularTax', 'exerciseTax', 'creditEarned', 'creditRecovered', 'creditRemaining', 'grossGain', 'federalLTCG', 'stateLTCG', 'amtPremiumFV', 'nfv'], 'properties': {'nfv': {'type': 'number', 'description': 'After-tax Net Final Value at the horizon in dollars: grossGain - federalLTCG - stateLTCG - amtPremiumFV. This is the summary figure each schedule is scored on.'}, 'label': {'enum': ['lump_sum', 'even_split', 'optimized'], 'type': 'string', 'description': 'Which candidate plan this schedule represents.'}, 'years': {'type': 'array', 'items': {'type': 'object', 'required': ['year', 'shares', 'bargain', 'regularFederal', 'regularState', 'tmtFederal', 'tmtState', 'amtOwedFederal', 'amtOwedState', 'creditRecovered', 'cashTax'], 'properties': {'year': {'type': 'integer', 'description': 'Schedule year, 1-indexed (1 = current year).'}, 'shares': {'type': 'number', 'description': 'ISO shares exercised this year.'}, 'bargain': {'type': 'number', 'description': 'Bargain element recognized this year in dollars: shares x (projected FMV - strike).'}, 'cashTax': {'type': 'number', 'description': 'Total cash tax paid this year in dollars: federal + state, net of credit recovery.'}, 'tmtState': {'type': 'number', 'description': 'State tentative minimum tax for the year in dollars (0 in states without AMT).'}, 'tmtFederal': {'type': 'number', 'description': 'Federal tentative minimum tax for the year in dollars.'}, 'amtOwedState': {'type': 'number', 'description': 'State AMT owed above regular state tax this year in dollars.'}, 'regularState': {'type': 'number', 'description': 'Regular state income tax for the year in dollars.'}, 'amtOwedFederal': {'type': 'number', 'description': 'Federal AMT owed above regular tax this year in dollars.'}, 'regularFederal': {'type': 'number', 'description': 'Regular federal income tax for the year in dollars (ordinary income only, before AMT).'}, 'creditRecovered': {'type': 'number', 'description': 'Federal AMT credit applied (recovered) this year in dollars.'}}, 'description': 'Exercise and tax detail for one calendar year of the schedule.'}, 'description': 'Per-year detail, one entry per year of the effective horizon.'}, 'totalTax': {'type': 'number', 'description': 'Total cash tax paid across the horizon in dollars.'}, 'grossGain': {'type': 'number', 'description': 'shares x (projected FMV at horizon - strike): the LTCG-eligible gain in dollars.'}, 'stateLTCG': {'type': 'number', 'description': 'State long-term capital gains tax on grossGain in dollars.'}, 'exerciseTax': {'type': 'number', 'description': 'totalTax minus baselineRegularTax: the marginal tax cost of exercising, in dollars.'}, 'federalLTCG': {'type': 'number', 'description': 'Federal long-term capital gains tax (including NIIT) on grossGain in dollars.'}, 'amtPremiumFV': {'type': 'number', 'description': 'Future-valued AMT premium stream (exercise tax paid above the no-exercise baseline, compounded at cashReturnRate to the horizon) in dollars.'}, 'creditEarned': {'type': 'number', 'description': 'Federal AMT credit generated across the horizon in dollars.'}, 'creditRecovered': {'type': 'number', 'description': 'Federal AMT credit recovered across the horizon in dollars.'}, 'creditRemaining': {'type': 'number', 'description': 'Federal AMT credit still unrecovered at the horizon in dollars.'}, 'baselineRegularTax': {'type': 'number', 'description': 'Tax owed with no exercise at all (regular federal + state on ordinary income, summed across the horizon) in dollars.'}}, 'description': 'Exercise all shares in year 1.'}, 'evenSplit': {'type': 'object', 'required': ['label', 'years', 'totalTax', 'baselineRegularTax', 'exerciseTax', 'creditEarned', 'creditRecovered', 'creditRemaining', 'grossGain', 'federalLTCG', 'stateLTCG', 'amtPremiumFV', 'nfv'], 'properties': {'nfv': {'type': 'number', 'description': 'After-tax Net Final Value at the horizon in dollars: grossGain - federalLTCG - stateLTCG - amtPremiumFV. This is the summary figure each schedule is scored on.'}, 'label': {'enum': ['lump_sum', 'even_split', 'optimized'], 'type': 'string', 'description': 'Which candidate plan this schedule represents.'}, 'years': {'type': 'array', 'items': {'type': 'object', 'required': ['year', 'shares', 'bargain', 'regularFederal', 'regularState', 'tmtFederal', 'tmtState', 'amtOwedFederal', 'amtOwedState', 'creditRecovered', 'cashTax'], 'properties': {'year': {'type': 'integer', 'description': 'Schedule year, 1-indexed (1 = current year).'}, 'shares': {'type': 'number', 'description': 'ISO shares exercised this year.'}, 'bargain': {'type': 'number', 'description': 'Bargain element recognized this year in dollars: shares x (projected FMV - strike).'}, 'cashTax': {'type': 'number', 'description': 'Total cash tax paid this year in dollars: federal + state, net of credit recovery.'}, 'tmtState': {'type': 'number', 'description': 'State tentative minimum tax for the year in dollars (0 in states without AMT).'}, 'tmtFederal': {'type': 'number', 'description': 'Federal tentative minimum tax for the year in dollars.'}, 'amtOwedState': {'type': 'number', 'description': 'State AMT owed above regular state tax this year in dollars.'}, 'regularState': {'type': 'number', 'description': 'Regular state income tax for the year in dollars.'}, 'amtOwedFederal': {'type': 'number', 'description': 'Federal AMT owed above regular tax this year in dollars.'}, 'regularFederal': {'type': 'number', 'description': 'Regular federal income tax for the year in dollars (ordinary income only, before AMT).'}, 'creditRecovered': {'type': 'number', 'description': 'Federal AMT credit applied (recovered) this year in dollars.'}}, 'description': 'Exercise and tax detail for one calendar year of the schedule.'}, 'description': 'Per-year detail, one entry per year of the effective horizon.'}, 'totalTax': {'type': 'number', 'description': 'Total cash tax paid across the horizon in dollars.'}, 'grossGain': {'type': 'number', 'description': 'shares x (projected FMV at horizon - strike): the LTCG-eligible gain in dollars.'}, 'stateLTCG': {'type': 'number', 'description': 'State long-term capital gains tax on grossGain in dollars.'}, 'exerciseTax': {'type': 'number', 'description': 'totalTax minus baselineRegularTax: the marginal tax cost of exercising, in dollars.'}, 'federalLTCG': {'type': 'number', 'description': 'Federal long-term capital gains tax (including NIIT) on grossGain in dollars.'}, 'amtPremiumFV': {'type': 'number', 'description': 'Future-valued AMT premium stream (exercise tax paid above the no-exercise baseline, compounded at cashReturnRate to the horizon) in dollars.'}, 'creditEarned': {'type': 'number', 'description': 'Federal AMT credit generated across the horizon in dollars.'}, 'creditRecovered': {'type': 'number', 'description': 'Federal AMT credit recovered across the horizon in dollars.'}, 'creditRemaining': {'type': 'number', 'description': 'Federal AMT credit still unrecovered at the horizon in dollars.'}, 'baselineRegularTax': {'type': 'number', 'description': 'Tax owed with no exercise at all (regular federal + state on ordinary income, summed across the horizon) in dollars.'}}, 'description': 'Exercise shares/horizon shares each year.'}, 'optimized': {'type': 'object', 'required': ['label', 'years', 'totalTax', 'baselineRegularTax', 'exerciseTax', 'creditEarned', 'creditRecovered', 'creditRemaining', 'grossGain', 'federalLTCG', 'stateLTCG', 'amtPremiumFV', 'nfv'], 'properties': {'nfv': {'type': 'number', 'description': 'After-tax Net Final Value at the horizon in dollars: grossGain - federalLTCG - stateLTCG - amtPremiumFV. This is the summary figure each schedule is scored on.'}, 'label': {'enum': ['lump_sum', 'even_split', 'optimized'], 'type': 'string', 'description': 'Which candidate plan this schedule represents.'}, 'years': {'type': 'array', 'items': {'type': 'object', 'required': ['year', 'shares', 'bargain', 'regularFederal', 'regularState', 'tmtFederal', 'tmtState', 'amtOwedFederal', 'amtOwedState', 'creditRecovered', 'cashTax'], 'properties': {'year': {'type': 'integer', 'description': 'Schedule year, 1-indexed (1 = current year).'}, 'shares': {'type': 'number', 'description': 'ISO shares exercised this year.'}, 'bargain': {'type': 'number', 'description': 'Bargain element recognized this year in dollars: shares x (projected FMV - strike).'}, 'cashTax': {'type': 'number', 'description': 'Total cash tax paid this year in dollars: federal + state, net of credit recovery.'}, 'tmtState': {'type': 'number', 'description': 'State tentative minimum tax for the year in dollars (0 in states without AMT).'}, 'tmtFederal': {'type': 'number', 'description': 'Federal tentative minimum tax for the year in dollars.'}, 'amtOwedState': {'type': 'number', 'description': 'State AMT owed above regular state tax this year in dollars.'}, 'regularState': {'type': 'number', 'description': 'Regular state income tax for the year in dollars.'}, 'amtOwedFederal': {'type': 'number', 'description': 'Federal AMT owed above regular tax this year in dollars.'}, 'regularFederal': {'type': 'number', 'description': 'Regular federal income tax for the year in dollars (ordinary income only, before AMT).'}, 'creditRecovered': {'type': 'number', 'description': 'Federal AMT credit applied (recovered) this year in dollars.'}}, 'description': 'Exercise and tax detail for one calendar year of the schedule.'}, 'description': 'Per-year detail, one entry per year of the effective horizon.'}, 'totalTax': {'type': 'number', 'description': 'Total cash tax paid across the horizon in dollars.'}, 'grossGain': {'type': 'number', 'description': 'shares x (projected FMV at horizon - strike): the LTCG-eligible gain in dollars.'}, 'stateLTCG': {'type': 'number', 'description': 'State long-term capital gains tax on grossGain in dollars.'}, 'exerciseTax': {'type': 'number', 'description': 'totalTax minus baselineRegularTax: the marginal tax cost of exercising, in dollars.'}, 'federalLTCG': {'type': 'number', 'description': 'Federal long-term capital gains tax (including NIIT) on grossGain in dollars.'}, 'amtPremiumFV': {'type': 'number', 'description': 'Future-valued AMT premium stream (exercise tax paid above the no-exercise baseline, compounded at cashReturnRate to the horizon) in dollars.'}, 'creditEarned': {'type': 'number', 'description': 'Federal AMT credit generated across the horizon in dollars.'}, 'creditRecovered': {'type': 'number', 'description': 'Federal AMT credit recovered across the horizon in dollars.'}, 'creditRemaining': {'type': 'number', 'description': 'Federal AMT credit still unrecovered at the horizon in dollars.'}, 'baselineRegularTax': {'type': 'number', 'description': 'Tax owed with no exercise at all (regular federal + state on ordinary income, summed across the horizon) in dollars.'}}, 'description': 'The NFV-maximal per-year allocation found by the optimizer. The recommended plan.'}}, 'description': 'The three candidate exercise schedules, each evaluated at the effective horizon. Their nfv values are directly comparable; optimized is the highest-NFV schedule the optimizer found.'}, 'stateHasAmt': {'type': 'boolean', 'description': 'True when the user state levies its own AMT (CA, CO, CT, MN).'}, 'alreadyInAmt': {'type': 'boolean', 'description': 'True when the user owes AMT even with zero exercise (regular tax below tentative minimum tax at baseline income).'}, 'bargainPerShare': {'type': 'number', 'description': 'Year-1 bargain element per share in dollars: max(0, fmv - strike).'}, 'crossoverShares': {'type': 'integer', 'description': 'Maximum whole shares exercisable in year 1 before federal AMT exceeds regular tax (the AMT crossover).'}, 'crossoverBargain': {'type': 'number', 'description': 'Bargain element in dollars at the crossover share count: crossoverShares x (fmv - strike).'}, 'effectiveHorizon': {'type': 'integer', 'description': 'Horizon actually used by the schedules: min(requested horizon, timing.maxHorizon).'}, 'departedRecommendation': {'type': 'object', 'required': ['recommendedShares', 'recommendedExerciseTax', 'recommendedNetValue', 'fullExerciseShares', 'fullExerciseTax', 'fullExerciseNetValue', 'holdYears', 'futureFmvPerShare', 'recommendedSchedule', 'curve'], 'properties': {'curve': {'type': 'array', 'items': {'type': 'object', 'required': ['shares', 'netValue', 'exerciseTax'], 'properties': {'shares': {'type': 'number', 'description': 'Exercised share count at this sample point.'}, 'netValue': {'type': 'number', 'description': 'Expected after-tax value in dollars at this share count.'}, 'exerciseTax': {'type': 'number', 'description': 'AMT cost in dollars at this share count.'}}}, 'description': 'Share-count vs after-tax-value curve sampled uniformly across [0, total shares], for charting.'}, 'holdYears': {'type': 'number', 'description': 'Post-exercise hold horizon in years used for the comparison.'}, 'fullExerciseTax': {'type': 'number', 'description': 'AMT cost in dollars of exercising all shares.'}, 'futureFmvPerShare': {'type': 'number', 'description': 'Projected FMV per share in dollars at the hold horizon.'}, 'recommendedShares': {'type': 'integer', 'description': 'Share count to exercise within the window, the best found by the scan.'}, 'fullExerciseShares': {'type': 'integer', 'description': 'Total shares available (the exercise-everything alternative).'}, 'recommendedNetValue': {'type': 'number', 'description': 'Expected after-tax value in dollars at the hold horizon for the recommended count.'}, 'recommendedSchedule': {'type': 'object', 'required': ['label', 'years', 'totalTax', 'baselineRegularTax', 'exerciseTax', 'creditEarned', 'creditRecovered', 'creditRemaining', 'grossGain', 'federalLTCG', 'stateLTCG', 'amtPremiumFV', 'nfv'], 'properties': {'nfv': {'type': 'number', 'description': 'After-tax Net Final Value at the horizon in dollars: grossGain - federalLTCG - stateLTCG - amtPremiumFV. This is the summary figure each schedule is scored on.'}, 'label': {'enum': ['lump_sum', 'even_split', 'optimized'], 'type': 'string', 'description': 'Which candidate plan this schedule represents.'}, 'years': {'type': 'array', 'items': {'type': 'object', 'required': ['year', 'shares', 'bargain', 'regularFederal', 'regularState', 'tmtFederal', 'tmtState', 'amtOwedFederal', 'amtOwedState', 'creditRecovered', 'cashTax'], 'properties': {'year': {'type': 'integer', 'description': 'Schedule year, 1-indexed (1 = current year).'}, 'shares': {'type': 'number', 'description': 'ISO shares exercised this year.'}, 'bargain': {'type': 'number', 'description': 'Bargain element recognized this year in dollars: shares x (projected FMV - strike).'}, 'cashTax': {'type': 'number', 'description': 'Total cash tax paid this year in dollars: federal + state, net of credit recovery.'}, 'tmtState': {'type': 'number', 'description': 'State tentative minimum tax for the year in dollars (0 in states without AMT).'}, 'tmtFederal': {'type': 'number', 'description': 'Federal tentative minimum tax for the year in dollars.'}, 'amtOwedState': {'type': 'number', 'description': 'State AMT owed above regular state tax this year in dollars.'}, 'regularState': {'type': 'number', 'description': 'Regular state income tax for the year in dollars.'}, 'amtOwedFederal': {'type': 'number', 'description': 'Federal AMT owed above regular tax this year in dollars.'}, 'regularFederal': {'type': 'number', 'description': 'Regular federal income tax for the year in dollars (ordinary income only, before AMT).'}, 'creditRecovered': {'type': 'number', 'description': 'Federal AMT credit applied (recovered) this year in dollars.'}}, 'description': 'Exercise and tax detail for one calendar year of the schedule.'}, 'description': 'Per-year detail, one entry per year of the effective horizon.'}, 'totalTax': {'type': 'number', 'description': 'Total cash tax paid across the horizon in dollars.'}, 'grossGain': {'type': 'number', 'description': 'shares x (projected FMV at horizon - strike): the LTCG-eligible gain in dollars.'}, 'stateLTCG': {'type': 'number', 'description': 'State long-term capital gains tax on grossGain in dollars.'}, 'exerciseTax': {'type': 'number', 'description': 'totalTax minus baselineRegularTax: the marginal tax cost of exercising, in dollars.'}, 'federalLTCG': {'type': 'number', 'description': 'Federal long-term capital gains tax (including NIIT) on grossGain in dollars.'}, 'amtPremiumFV': {'type': 'number', 'description': 'Future-valued AMT premium stream (exercise tax paid above the no-exercise baseline, compounded at cashReturnRate to the horizon) in dollars.'}, 'creditEarned': {'type': 'number', 'description': 'Federal AMT credit generated across the horizon in dollars.'}, 'creditRecovered': {'type': 'number', 'description': 'Federal AMT credit recovered across the horizon in dollars.'}, 'creditRemaining': {'type': 'number', 'description': 'Federal AMT credit still unrecovered at the horizon in dollars.'}, 'baselineRegularTax': {'type': 'number', 'description': 'Tax owed with no exercise at all (regular federal + state on ordinary income, summed across the horizon) in dollars.'}}, 'description': 'Year-by-year tax schedule for the recommended share count.'}, 'fullExerciseNetValue': {'type': 'number', 'description': 'Expected after-tax value in dollars at the hold horizon if all shares are exercised.'}, 'recommendedExerciseTax': {'type': 'number', 'description': 'AMT cost in dollars at the recommended share count.'}}, 'description': 'Present only when hasLeftCompany=true and the 90-day post-termination window is still open: the partial-exercise quantity with the highest expected after-tax value found by a scan over candidate share counts, which can land a few shares off the exact optimum.'}}, 'description': 'ISO/AMT exercise optimization result. All dollar amounts are USD.'}

{'type': 'object', 'required': ['positionValue', 'costBasis', 'acquisitionDate', 'sector', 'stateCode', 'filingStatus', 'ordinaryIncome', 'totalAssets'], 'properties': {'sector': {'enum': ['tech_software', 'semiconductors', 'consumer_cyclical', 'consumer_defensive', 'financials', 'healthcare_biotech', 'energy', 'industrials', 'communication', 'broad_market'], 'type': 'string', 'description': 'Sector tag. Drives the default volatility used in the hedge-cost computation when no explicit volatility is provided (a sector-typical implied volatility).'}, 'ticker': {'type': 'string', 'description': 'Optional public-stock symbol (e.g. "NVDA", "AAPL"). When set, the tool substitutes a cached trailing return for any unsupplied expected-return / sale-price field, and the implied vol as of the last close for any unsupplied volatility. Growth and vol come from different sources, so some symbols resolve only one, and a vol that is not current resolves as nothing. A field the ticker cannot resolve falls through to a "required field" error naming that field: pass it explicitly, or (for the growth/return/sale-price field) pass the string "market" for the S&P 500 trailing average; never invent a number. The covered-tickers resource (resources/list) lists which symbols resolve growth.'}, 'costBasis': {'type': 'number', 'minimum': 0, 'description': 'Total cost basis of the position, USD (sum of strikes paid + ordinary-income inclusions on RSU vest / NSO exercise / disqualified ISO). Must come from the user.'}, 'stateCode': {'enum': ['AK', 'AL', 'AR', 'AZ', 'CA', 'CO', 'CT', 'DC', 'DE', 'FL', 'GA', 'HI', 'IA', 'ID', 'IL', 'IN', 'KS', 'KY', 'LA', 'MA', 'MD', 'ME', 'MI', 'MN', 'MO', 'MS', 'MT', 'NC', 'ND', 'NE', 'NH', 'NJ', 'NM', 'NV', 'NY', 'OH', 'OK', 'OR', 'PA', 'RI', 'SC', 'SD', 'TN', 'TX', 'UT', 'VA', 'VT', 'WA', 'WI', 'WV', 'WY'], 'type': 'string', 'description': 'Two-letter US state code. Drives state LTCG and ordinary brackets.'}, 'volatility': {'type': 'number', 'maximum': 5, 'minimum': 0, 'description': 'Annualized volatility (sigma) of the stock as a decimal (0.72 = 72%). Pass the volatility itself, not a pre-computed drag: the tool uses it both for hedge pricing (as implied vol) and for the 3y horizon drag, derived internally (the drag formula is horizon-dependent). This value must come from the user or from a `ticker` that resolves it as of the last market close; if neither supplies it, ask the user rather than estimating one; only as a last fallback does hedge pricing use a sector-typical implied volatility.'}, 'hedgeChoice': {'type': 'object', 'required': ['kind', 'protectionLevel', 'tenorYears'], 'properties': {'kind': {'enum': ['put', 'collar'], 'type': 'string', 'description': "Hedge instrument: 'put' (bare protective put, pay premium for downside protection) or 'collar' (put financed by a short call, caps upside in exchange for lower or zero net premium)."}, 'tenorYears': {'type': 'number', 'minimum': 0.25, 'description': "Option tenor in years. 1 = 12-month; 0.25 = ~90-day. The user's choice, not a modelling detail, and it changes the answer: use the value they gave, and if they gave none, ask for it rather than assuming one."}, 'upsideCapPct': {'type': 'number', 'description': 'For collars only: optional explicit upside cap as fraction above spot (e.g. 0.20 = 20% cap). Omit to let the tool solve for the cap that makes the collar zero-net-premium.'}, 'protectionLevel': {'type': 'number', 'maximum': 0.5, 'minimum': 0.05, 'description': "Put strike chosen as (1 − this fraction) × spot. 0.10 = 10% OTM put. Range 0.05..0.50. The user's choice, not a modelling detail, and it changes the answer: use the value they gave, and if they gave none, ask for it rather than assuming one."}}, 'description': 'Optional hedge specification. When supplied, the `hedging` output block prices this exact structure (kind, protectionLevel, tenorYears, plus a short call for a collar) instead of the default 1-year 30%-OTM put; the sell-down-vs-hold schedule is unaffected. For full standalone hedge pricing (protective put / collar / put spread) use `protective_put_price`.'}, 'totalAssets': {'type': 'number', 'minimum': 0, 'description': 'Total investable portfolio in dollars (concentrated position + everything else). This value must come from the user, never inferred; if the user did not state it, ask.'}, 'filingStatus': {'enum': ['single', 'married_joint', 'head_household'], 'type': 'string', 'description': 'Federal filing status. Drives LTCG brackets and the NIIT MAGI threshold.'}, 'positionValue': {'type': 'number', 'minimum': 0, 'description': 'Current market value of the concentrated single-stock position, USD. Must come from the user.'}, 'ordinaryIncome': {'type': 'number', 'minimum': 0, 'description': 'Annual ordinary income before any sales, USD. Baseline for LTCG bracket determination. Must come from the user. This is taxable income after deductions, not gross wages: the engine applies no standard or itemized deduction to it.'}, 'volatilityDrag': {'type': 'number', 'maximum': 0.99, 'minimum': 0, 'description': 'Alternative to `volatility`: the multiplicative price haircut already computed for the horizon. Supply this OR `volatility` (if both are given, volatilityDrag wins). This field is for a drag figure that already exists from a prior computation; the drag formula is horizon-dependent, so a figure derived for a different horizon does not carry over. Supplying `volatility` instead lets the tool derive it.'}, 'acquisitionDate': {'type': 'string', 'format': 'date', 'description': 'Earliest acquisition date in the lot (YYYY-MM-DD). Drives the 1-year LTCG threshold and the long-term-vs-short-term tax routing.'}, 'expectedMarketReturn': {'type': ['number', 'string'], 'description': 'Annual after-tax-proceeds reinvestment rate. Defaults to SPY trailing CAGR for the 3-year horizon if omitted; the string "market" names that same default explicitly.'}, 'expectedPositionReturn': {'type': ['number', 'string'], 'description': 'Annual expected return on the concentrated stock as a decimal (0.10 = 10%), or the string "market" to use the S&P 500 trailing average when the user has no view. Required unless `ticker` resolves it from trailing CAGR. This tool has no default for it: a value not stated by the user, not resolved by a covered `ticker`, and not the "market" sentinel is outside the input contract.'}}}

{'type': 'object', 'required': ['concentration', 'riskBand', 'isLongTermToday', 'longTermDate', 'daysUntilLongTerm', 'lossExposure', 'waitForLtInsight', 'schedule', 'hedging', 'sectorContextLine', 'advisorBenchmarkLine'], 'properties': {'hedging': {'type': 'object', 'required': ['kind', 'protectionLevel', 'tenorYears', 'strike', 'putPrice', 'netPremium', 'sigma', 'riskFreeRate'], 'properties': {'kind': {'enum': ['put', 'collar'], 'type': 'string', 'description': 'Structure priced: "put" (default) or "collar" when a hedgeChoice with kind:"collar" and upsideCapPct was supplied.'}, 'sigma': {'type': 'number', 'description': 'Annualized volatility used in pricing (explicit or ticker-implied vol, else a sector-typical implied volatility).'}, 'strike': {'type': 'number', 'description': 'Long put strike in dollars ((1 - protectionLevel) x position value).'}, 'putPrice': {'type': 'number', 'description': 'Gross long-put premium in dollars for the tenor.'}, 'callPrice': {'type': 'number', 'description': 'Collar short-call premium in dollars received. Omitted for a put.'}, 'callStrike': {'type': 'number', 'description': 'Collar short-call strike in dollars ((1 + upsideCapPct) x position value). Omitted for a put.'}, 'netPremium': {'type': 'number', 'description': 'Net premium paid in dollars: putPrice for a put, max(0, putPrice - callPrice) for a collar.'}, 'tenorYears': {'type': 'number', 'description': 'Hedge tenor in years. Echoes hedgeChoice.tenorYears, else 1.'}, 'riskFreeRate': {'type': 'number', 'description': 'Annualized risk-free rate used in pricing, as a decimal.'}, 'protectionLevel': {'type': 'number', 'description': 'Floor as a fraction below spot (0.30 = a 30%-OTM put). Echoes hedgeChoice.protectionLevel, else 0.30.'}}, 'description': 'Modeled cost of a protective hedge covering the full position. Defaults to a 1-year 30%-OTM put; if a `hedgeChoice` is supplied, this block prices that structure (kind / protectionLevel / tenorYears, plus a short call for a collar).'}, 'riskBand': {'enum': ['Low', 'Moderate', 'Concentrated', 'Highly concentrated', 'Extreme'], 'type': 'string', 'description': 'Qualitative concentration band for the position weight.'}, 'schedule': {'type': 'array', 'items': {'type': 'object', 'required': ['planKey', 'planLabel', 'yearlySales', 'totalSale', 'totalTax', 'endOfHorizonWealth', 'savingsVsLumpSum', 'wealthVsLumpSum', 'year1IsShortTerm', 'taxBreakdown', 'wealthByYear'], 'properties': {'planKey': {'enum': ['lump_sum', 'two_year', 'three_year'], 'type': 'string', 'description': 'Plan identifier.'}, 'totalTax': {'type': 'number', 'description': 'Total tax in dollars across the plan years.'}, 'planLabel': {'type': 'string', 'description': 'Human-readable plan name, e.g. "Sell over 2 years".'}, 'totalSale': {'type': 'number', 'description': 'Total nominal sale dollars across the plan years.'}, 'yearlySales': {'type': 'array', 'items': {'type': 'object', 'required': ['year', 'saleAmount', 'gainAmount', 'isLongTerm', 'federalTax', 'stateTax', 'totalTax', 'breakdown'], 'properties': {'year': {'type': 'number', 'description': 'Sale year, 1-indexed.'}, 'stateTax': {'type': 'number', 'description': 'State tax in dollars on this sale.'}, 'totalTax': {'type': 'number', 'description': 'Total tax in dollars on this sale.'}, 'breakdown': {'type': 'array', 'items': {'type': 'object', 'required': ['label', 'rate', 'amount', 'tax'], 'properties': {'tax': {'type': 'number', 'description': 'Tax in dollars: amount x rate.'}, 'rate': {'type': 'number', 'description': 'Rate applied to this slice as a decimal (0.15 = 15%).'}, 'label': {'type': 'string', 'description': 'Tax line label, e.g. "Federal LTCG", "NIIT", "California".'}, 'amount': {'type': 'number', 'description': 'Dollars of gain in this slice.'}}, 'description': 'One tax slice: a dollar amount taxed at one rate.'}, 'description': 'Per-rate tax slices for this sale.'}, 'federalTax': {'type': 'number', 'description': 'Federal tax in dollars on this sale (including NIIT).'}, 'gainAmount': {'type': 'number', 'description': 'Taxable gain in dollars within the sale.'}, 'isLongTerm': {'type': 'boolean', 'description': 'True when this sale gets long-term capital gains treatment.'}, 'saleAmount': {'type': 'number', 'description': 'Dollars sold this year.'}}}, 'description': 'One entry per sale year: year (1-indexed), saleAmount, gainAmount, isLongTerm, federalTax, stateTax, totalTax in dollars, plus a per-slice breakdown.'}, 'taxBreakdown': {'type': 'array', 'items': {'type': 'object', 'required': ['label', 'rate', 'amount', 'tax'], 'properties': {'tax': {'type': 'number', 'description': 'Tax in dollars: amount x rate.'}, 'rate': {'type': 'number', 'description': 'Rate applied to this slice as a decimal (0.15 = 15%).'}, 'label': {'type': 'string', 'description': 'Tax line label, e.g. "Federal LTCG", "NIIT", "California".'}, 'amount': {'type': 'number', 'description': 'Dollars of gain in this slice.'}}, 'description': 'One tax slice: a dollar amount taxed at one rate.'}, 'description': 'Plan-total tax slices, same-rate rows merged.'}, 'wealthByYear': {'type': 'array', 'items': {'type': 'number'}, 'description': 'Total wealth in dollars at the end of each year, t = 0..3 (4 points). For charting.'}, 'wealthVsLumpSum': {'type': 'number', 'description': 'End-of-horizon wealth delta in dollars vs the sell-everything-today baseline; positive means this plan ends wealthier.'}, 'savingsVsLumpSum': {'type': 'number', 'description': 'Raw tax saved in dollars vs selling everything today; positive means this plan pays less tax.'}, 'year1IsShortTerm': {'type': 'boolean', 'description': 'True when the first sale year would be taxed at short-term rates.'}, 'endOfHorizonWealth': {'type': 'number', 'description': 'Total after-tax wealth in dollars at the end of the 3-year comparison horizon.'}}}, 'description': 'Sell-down plans over 1, 2, and 3 years; empty when the position is already at or below the target weight.'}, 'longTermDate': {'type': 'string', 'description': 'Date the position turns long-term (acquisitionDate + 1 year). ISO 8601 date-time string.'}, 'lossExposure': {'type': 'array', 'items': {'type': 'object', 'required': ['drop', 'dollarLoss', 'newConcentration'], 'properties': {'drop': {'type': 'number', 'description': 'Modeled drawdown as a fraction of position value (0.30, 0.50, 0.70).'}, 'dollarLoss': {'type': 'number', 'description': 'Dollars lost at this drawdown.'}, 'newConcentration': {'type': 'number', 'description': 'Portfolio concentration (0..1) after the drawdown.'}}}, 'description': 'Dollar damage at 30/50/70% single-stock drawdowns.'}, 'concentration': {'type': 'number', 'description': 'Position value / total assets, 0..1.'}, 'isLongTermToday': {'type': 'boolean', 'description': 'True when the position already qualifies for long-term capital gains treatment.'}, 'waitForLtInsight': {'type': ['object', 'null'], 'required': ['longTermDate', 'daysAway', 'immediateLumpSumTax', 'delayedLumpSumTax', 'savings'], 'properties': {'savings': {'type': 'number', 'description': 'immediateLumpSumTax - delayedLumpSumTax in dollars (floored at 0).'}, 'daysAway': {'type': 'number', 'description': 'Days until that date.'}, 'longTermDate': {'type': 'string', 'description': 'Date the position turns long-term. ISO 8601 date-time string.'}, 'delayedLumpSumTax': {'type': 'number', 'description': 'Tax in dollars on the same sale executed after the long-term date.'}, 'immediateLumpSumTax': {'type': 'number', 'description': 'Tax in dollars on the full sell-down executed today (short-term rates).'}}, 'description': 'Tax saved by waiting for long-term treatment before selling; null when already long-term or no sale is needed.'}, 'daysUntilLongTerm': {'type': 'number', 'description': 'Days until long-term treatment; 0 when already long-term.'}, 'sectorContextLine': {'type': 'string', 'description': 'One-line volatility/drawdown context for the chosen sector.'}, 'advisorBenchmarkLine': {'type': 'string', 'description': 'One-line comparison of the user weight vs the common advisor 10% single-name guideline.'}}, 'description': 'Single-stock concentration analysis. All dollar amounts are USD.'}

{'type': 'object', 'required': ['targetAfterTax', 'targetDate', 'ordinaryIncome', 'filingStatus', 'stateCode'], 'properties': {'lots': {'type': 'array', 'items': {'type': 'object', 'required': ['shares', 'costBasisPerShare', 'acquisitionDate'], 'properties': {'shares': {'type': 'integer', 'minimum': 1, 'description': 'Whole shares in this lot.'}, 'vestDate': {'type': 'string', 'format': 'date', 'description': 'Optional future vest date for an unvested RSU tranche. The lot is excluded from sales whose date precedes `vestDate`. For unvested RSUs, set `vestDate` to the future vest date and pass `costBasisPerShare: 0`; the calc overrides basis with the projected FMV at vest. Same semantics as `stacks[].lots[].vestDate`.'}, 'acquisitionDate': {'type': 'string', 'format': 'date', 'description': 'Date the lot was acquired. Drives the 1-year long-term-vs-short-term classification at each candidate sale date.'}, 'costBasisPerShare': {'type': 'number', 'minimum': 0, 'description': 'Per-share cost basis, USD. For RSU vests this is the FMV at vest. For ESPP/open-market this is the purchase price.'}}}, 'minItems': 1, 'description': 'Legacy single-stack input (v1.5 / v1.6). Provide either `stacks` (v1.7+) or these legacy fields, not both. Lot is one cost-basis cohort (one RSU vest tranche, one ESPP purchase, one open-market buy).'}, 'stacks': {'type': 'array', 'items': {'type': 'object', 'required': ['currentPrice', 'lots'], 'properties': {'lots': {'type': 'array', 'items': {'type': 'object', 'required': ['shares', 'costBasisPerShare', 'acquisitionDate'], 'properties': {'shares': {'type': 'integer', 'minimum': 1, 'description': 'Whole shares in this lot.'}, 'vestDate': {'type': 'string', 'format': 'date', 'description': 'Optional future vest date for an unvested RSU tranche. The lot is excluded from sales whose date precedes `vestDate`. For unvested RSUs, set `vestDate` to the future vest date and pass `costBasisPerShare: 0`; the calc overrides basis with the projected FMV at vest.'}, 'acquisitionDate': {'type': 'string', 'format': 'date', 'description': 'Acquisition date. Sales 366+ days later are long-term capital gains; earlier sales are short-term ordinary. Drives the LT-vs-ST classification at every candidate sale date.'}, 'costBasisPerShare': {'type': 'number', 'minimum': 0, 'description': '$/share basis. RSU = FMV at vest; ISO/NSO = exercise price; ESPP/open-market = purchase price.'}}}, 'minItems': 1, 'description': 'Cost-basis cohorts within this stack (one per vest tranche / ESPP purchase / open-market buy).'}, 'ticker': {'type': 'string', 'description': 'Optional ticker label (e.g. "NVDA"). When set without `expectedAnnualGrowth`, growth is resolved from the cached trailing-CAGR snapshot when the symbol is covered there (see the covered-tickers resource for the current set). Echoed back in each SaleEntry for display.'}, 'volatility': {'type': 'number', 'maximum': 5, 'minimum': 0, 'description': 'Per-stack annualized σ used in the shortfall calculation (σ × √Δt per sale). Overrides `defaultVolatility` for THIS stack only. Useful when one stack is a single tech name (σ ≈ 0.40-0.60) and another is an ETF (σ ≈ 0.15-0.20). Omit to inherit `defaultVolatility`.'}, 'currentPrice': {'type': 'number', 'minimum': 0, 'description': '$/share today for this stack. Anchors the projected-price compounding for every future candidate sale date in this stack. Must come from the user.'}, 'expectedAnnualGrowth': {'type': ['number', 'string'], 'description': 'Per-stack growth decimal (0.08 = 8%/yr), or the string "market" for the S&P 500 trailing average. Projected sale price = currentPrice × (1 + expectedAnnualGrowth)^Δyears. Negative values model decline; pass 0 for a deliberately flat-price plan. Required unless `ticker` resolves it; omitting it is an error, not a flat default.'}}}, 'minItems': 1, 'description': 'Holdings, multi-stack form. Provide either `stacks` (this) OR the legacy `lots`+`currentPrice` pair, not both. Each stack is one equity position (one ticker) with its own current price, growth, optional volatility, and lot list. Use when the user holds multiple tickers (e.g. current-employer RSUs + ETF + prior-employer holdings); the optimizer searches sales across all stacks jointly so the schedule can prefer the lowest-tax inventory in each year.'}, 'stateCode': {'enum': ['AK', 'AL', 'AR', 'AZ', 'CA', 'CO', 'CT', 'DC', 'DE', 'FL', 'GA', 'HI', 'IA', 'ID', 'IL', 'IN', 'KS', 'KY', 'LA', 'MA', 'MD', 'ME', 'MI', 'MN', 'MO', 'MS', 'MT', 'NC', 'ND', 'NE', 'NH', 'NJ', 'NM', 'NV', 'NY', 'OH', 'OK', 'OR', 'PA', 'RI', 'SC', 'SD', 'TN', 'TX', 'UT', 'VA', 'VT', 'WA', 'WI', 'WV', 'WY'], 'type': 'string', 'description': 'Two-letter US state code (e.g. CA, NY, TX). Drives state ordinary or LTCG treatment depending on state (CA taxes LTCG as ordinary; WA has no LTCG tax under $250K; TX/FL/etc. have no state income tax).'}, 'targetDate': {'type': 'string', 'format': 'date', 'description': "Date by which the user needs the net cash (YYYY-MM-DD). Bounds the planning horizon. Sales in non-target years happen on Dec 31; the target year's sale happens on this exact date. Must come from the user."}, 'currentPrice': {'type': 'number', 'minimum': 0, 'description': 'Legacy single-stack current share price, USD. Pair with legacy `lots` (omit `stacks`). This value must come from the user.'}, 'filingStatus': {'enum': ['single', 'married_joint', 'head_household'], 'type': 'string', 'description': 'Federal filing status. Drives LTCG brackets, NIIT threshold ($200K single / $250K MFJ MAGI), and state bracket lookups.'}, 'ordinaryIncome': {'type': 'number', 'minimum': 0, 'description': 'Annual ordinary income, USD. Used as the baseline for the federal LTCG bracket walk in each candidate year and for NIIT threshold tests. Must come from the user. This is taxable income after deductions, not gross wages: the engine applies no standard or itemized deduction to it.'}, 'targetAfterTax': {'type': 'number', 'minimum': 0, 'description': "Net cash needed in the user's pocket after all applicable taxes (federal LTCG/ordinary + state + NIIT), USD. Example: a $1M house with 20% down minus existing savings might give a $200,000 target. Must come from the user."}, 'cashInterestRate': {'type': 'number', 'description': "Annualized PRE-tax yield on cash held between each sale and the target date (money-market / short-term Treasury). The tool internally discounts this by the user's marginal federal + state ordinary rate before compounding, so the after-tax cash growth stays apples-to-apples with stock appreciation. Default 0 (interest ignored)."}, 'defaultVolatility': {'type': 'number', 'maximum': 5, 'minimum': 0, 'description': 'Annualized σ assumed for any stack that omits its own `volatility`. Drives the per-sale σ × √Δt shortfall calculation. Override per-stack on the stack object when one position is materially more or less volatile than the rest. Default 0.30.'}, 'expectedAnnualGrowth': {'type': ['number', 'string'], 'description': 'Legacy single-stack annual growth decimal, or the string "market" for the S&P 500 trailing average. Required with `lots`: pass 0 for a deliberately flat-price plan (omitting it is an error, not a flat default). Each future year\'s projected price is `currentPrice × (1 + expectedAnnualGrowth)^Δyears`. Negative values model decline.'}, 'riskToleranceShortfall': {'type': 'number', 'maximum': 1, 'minimum': 0, 'description': 'Max acceptable P(realized cash < target) under the lognormal price model, as a fraction (0.10 = 10%). The `recommended` plan is the wealth-maximal plan whose shortfall ≤ this value. Tighter values push the recommendation toward Lock-in-now; looser values let `recommended` accept more price exposure for higher expected wealth. Default 0.10.'}}}

{'type': 'object', 'required': ['recommended', 'lockInNow', 'balanced', 'holdForGrowth', 'frontier', 'targetAfterTax', 'targetDateISO', 'appliedRiskTolerance'], 'properties': {'balanced': {'type': 'object', 'required': ['planKey', 'planLabel', 'plan', 'wealthAtTarget', 'totalTax', 'shortfallProbability'], 'properties': {'plan': {'type': 'object', 'required': ['feasible', 'targetAfterTax', 'targetDateISO', 'totalAfterTaxAchieved', 'totalSharesSold', 'totalGrossProceeds', 'totalTaxes', 'schedule', 'comparison', 'remainingShares', 'remainingPositionValue', 'remainingPositionAfterTax', 'remainingNetByStack'], 'properties': {'feasible': {'type': 'boolean', 'description': 'True when the schedule reaches the after-tax target by the target date.'}, 'schedule': {'type': 'array', 'items': {'type': 'object', 'additionalProperties': True}, 'description': 'Per-year sale schedule. Each entry: year, saleDateISO, sales (array of per-lot entries: stackIndex, ticker, lotIndex, shares, grossProceeds, gainAmount, isLongTerm, federalTax, stateTax, niit, netCash), yearGrossProceeds, yearTotalTax, yearNetCash, runningCumulativeNet.'}, 'shortfall': {'type': 'object', 'required': ['maxAchievableAfterTax', 'gap'], 'properties': {'gap': {'type': 'number', 'description': 'Dollars short of the target.'}, 'maxAchievableAfterTax': {'type': 'number', 'description': 'Maximum after-tax cash in dollars achievable by the target date.'}}, 'description': 'Present only when the target is not reachable from the available inventory.'}, 'comparison': {'type': 'object', 'required': ['sellAllInTargetYearTotalTax', 'sellAllInTargetYearAfterTax', 'optimizedSavingsVsTargetYearSale', 'optimizedSavingsPct'], 'properties': {'optimizedSavingsPct': {'type': 'number', 'description': 'Tax saved as a fraction of the naive plan tax.'}, 'sellAllInTargetYearAfterTax': {'type': 'number', 'description': 'After-tax cash in dollars under that naive plan.'}, 'sellAllInTargetYearTotalTax': {'type': 'number', 'description': 'Tax in dollars if all needed shares were sold in the target year.'}, 'optimizedSavingsVsTargetYearSale': {'type': 'number', 'description': 'Tax saved in dollars by this schedule vs the naive plan.'}}, 'description': 'This schedule vs the naive sell-everything-in-the-target-year alternative.'}, 'totalTaxes': {'type': 'object', 'required': ['federal', 'state', 'niit', 'total'], 'properties': {'niit': {'type': 'number', 'description': 'Net Investment Income Tax (3.8%) in dollars.'}, 'state': {'type': 'number', 'description': 'State tax in dollars.'}, 'total': {'type': 'number', 'description': 'Total tax in dollars.'}, 'federal': {'type': 'number', 'description': 'Federal capital gains / ordinary tax in dollars.'}}, 'description': 'Tax totals across all scheduled sales, in dollars.'}, 'targetDateISO': {'type': 'string', 'description': 'Echo of the target date as an ISO date string.'}, 'targetAfterTax': {'type': 'number', 'description': 'Echo of the requested net cash target in dollars.'}, 'remainingShares': {'type': 'number', 'description': 'Shares retained after all scheduled sales.'}, 'totalSharesSold': {'type': 'number', 'description': 'Total shares sold across the schedule.'}, 'totalGrossProceeds': {'type': 'number', 'description': 'Total gross sale proceeds in dollars.'}, 'remainingNetByStack': {'type': 'array', 'items': {'type': 'number'}, 'description': 'Per-stack after-tax retained value in dollars, parallel to the input stacks array.'}, 'totalAfterTaxAchieved': {'type': 'number', 'description': 'Net after-tax cash in dollars the schedule produces by the target date (including after-tax cash interest when cashInterestRate is set).'}, 'remainingPositionValue': {'type': 'number', 'description': 'Market value in dollars of retained shares at the projected target-date price.'}, 'remainingPositionAfterTax': {'type': 'number', 'description': 'After-tax value in dollars of liquidating all retained shares at the target date (the cash backstop if scheduled sales come in light).'}}, 'description': 'The full sale schedule for this plan. Nested year/sale entries follow the shapes described here and may carry additional fields.'}, 'planKey': {'enum': ['recommended', 'lock_in_now', 'balanced', 'hold_for_growth', 'candidate'], 'type': 'string', 'description': 'Plan identifier. "candidate" entries appear only inside frontier.'}, 'totalTax': {'type': 'number', 'description': 'Total tax paid across the plan in dollars.'}, 'planLabel': {'type': 'string', 'description': 'Human-readable plan name.'}, 'lockInFraction': {'type': 'number', 'description': 'Fraction (0..1) of the target locked in by an immediate sale, for hybrid candidates. Omitted on pure named plans.'}, 'wealthAtTarget': {'type': 'number', 'description': 'Total wealth in dollars at the target date: net cash plus retained shares at the projected price. The metric the recommendation maximizes.'}, 'shortfallProbability': {'type': 'number', 'description': 'Lognormal probability (0..1) that realized cash lands below the target. 0 means a deterministic hit (sell everything today).'}}, 'description': 'Bracket-aware spread across all candidate years: minimum tax.'}, 'frontier': {'type': 'array', 'items': {'type': 'object', 'required': ['planKey', 'planLabel', 'plan', 'wealthAtTarget', 'totalTax', 'shortfallProbability'], 'properties': {'plan': {'type': 'object', 'required': ['feasible', 'targetAfterTax', 'targetDateISO', 'totalAfterTaxAchieved', 'totalSharesSold', 'totalGrossProceeds', 'totalTaxes', 'schedule', 'comparison', 'remainingShares', 'remainingPositionValue', 'remainingPositionAfterTax', 'remainingNetByStack'], 'properties': {'feasible': {'type': 'boolean', 'description': 'True when the schedule reaches the after-tax target by the target date.'}, 'schedule': {'type': 'array', 'items': {'type': 'object', 'additionalProperties': True}, 'description': 'Per-year sale schedule. Each entry: year, saleDateISO, sales (array of per-lot entries: stackIndex, ticker, lotIndex, shares, grossProceeds, gainAmount, isLongTerm, federalTax, stateTax, niit, netCash), yearGrossProceeds, yearTotalTax, yearNetCash, runningCumulativeNet.'}, 'shortfall': {'type': 'object', 'required': ['maxAchievableAfterTax', 'gap'], 'properties': {'gap': {'type': 'number', 'description': 'Dollars short of the target.'}, 'maxAchievableAfterTax': {'type': 'number', 'description': 'Maximum after-tax cash in dollars achievable by the target date.'}}, 'description': 'Present only when the target is not reachable from the available inventory.'}, 'comparison': {'type': 'object', 'required': ['sellAllInTargetYearTotalTax', 'sellAllInTargetYearAfterTax', 'optimizedSavingsVsTargetYearSale', 'optimizedSavingsPct'], 'properties': {'optimizedSavingsPct': {'type': 'number', 'description': 'Tax saved as a fraction of the naive plan tax.'}, 'sellAllInTargetYearAfterTax': {'type': 'number', 'description': 'After-tax cash in dollars under that naive plan.'}, 'sellAllInTargetYearTotalTax': {'type': 'number', 'description': 'Tax in dollars if all needed shares were sold in the target year.'}, 'optimizedSavingsVsTargetYearSale': {'type': 'number', 'description': 'Tax saved in dollars by this schedule vs the naive plan.'}}, 'description': 'This schedule vs the naive sell-everything-in-the-target-year alternative.'}, 'totalTaxes': {'type': 'object', 'required': ['federal', 'state', 'niit', 'total'], 'properties': {'niit': {'type': 'number', 'description': 'Net Investment Income Tax (3.8%) in dollars.'}, 'state': {'type': 'number', 'description': 'State tax in dollars.'}, 'total': {'type': 'number', 'description': 'Total tax in dollars.'}, 'federal': {'type': 'number', 'description': 'Federal capital gains / ordinary tax in dollars.'}}, 'description': 'Tax totals across all scheduled sales, in dollars.'}, 'targetDateISO': {'type': 'string', 'description': 'Echo of the target date as an ISO date string.'}, 'targetAfterTax': {'type': 'number', 'description': 'Echo of the requested net cash target in dollars.'}, 'remainingShares': {'type': 'number', 'description': 'Shares retained after all scheduled sales.'}, 'totalSharesSold': {'type': 'number', 'description': 'Total shares sold across the schedule.'}, 'totalGrossProceeds': {'type': 'number', 'description': 'Total gross sale proceeds in dollars.'}, 'remainingNetByStack': {'type': 'array', 'items': {'type': 'number'}, 'description': 'Per-stack after-tax retained value in dollars, parallel to the input stacks array.'}, 'totalAfterTaxAchieved': {'type': 'number', 'description': 'Net after-tax cash in dollars the schedule produces by the target date (including after-tax cash interest when cashInterestRate is set).'}, 'remainingPositionValue': {'type': 'number', 'description': 'Market value in dollars of retained shares at the projected target-date price.'}, 'remainingPositionAfterTax': {'type': 'number', 'description': 'After-tax value in dollars of liquidating all retained shares at the target date (the cash backstop if scheduled sales come in light).'}}, 'description': 'The full sale schedule for this plan. Nested year/sale entries follow the shapes described here and may carry additional fields.'}, 'planKey': {'enum': ['recommended', 'lock_in_now', 'balanced', 'hold_for_growth', 'candidate'], 'type': 'string', 'description': 'Plan identifier. "candidate" entries appear only inside frontier.'}, 'totalTax': {'type': 'number', 'description': 'Total tax paid across the plan in dollars.'}, 'planLabel': {'type': 'string', 'description': 'Human-readable plan name.'}, 'lockInFraction': {'type': 'number', 'description': 'Fraction (0..1) of the target locked in by an immediate sale, for hybrid candidates. Omitted on pure named plans.'}, 'wealthAtTarget': {'type': 'number', 'description': 'Total wealth in dollars at the target date: net cash plus retained shares at the projected price. The metric the recommendation maximizes.'}, 'shortfallProbability': {'type': 'number', 'description': 'Lognormal probability (0..1) that realized cash lands below the target. 0 means a deterministic hit (sell everything today).'}}, 'description': 'One sale plan on the risk/wealth frontier.'}, 'description': 'All candidate plans from the hybrid lock-in sweep plus the named plans, sorted by shortfall probability.'}, 'lockInNow': {'type': 'object', 'required': ['planKey', 'planLabel', 'plan', 'wealthAtTarget', 'totalTax', 'shortfallProbability'], 'properties': {'plan': {'type': 'object', 'required': ['feasible', 'targetAfterTax', 'targetDateISO', 'totalAfterTaxAchieved', 'totalSharesSold', 'totalGrossProceeds', 'totalTaxes', 'schedule', 'comparison', 'remainingShares', 'remainingPositionValue', 'remainingPositionAfterTax', 'remainingNetByStack'], 'properties': {'feasible': {'type': 'boolean', 'description': 'True when the schedule reaches the after-tax target by the target date.'}, 'schedule': {'type': 'array', 'items': {'type': 'object', 'additionalProperties': True}, 'description': 'Per-year sale schedule. Each entry: year, saleDateISO, sales (array of per-lot entries: stackIndex, ticker, lotIndex, shares, grossProceeds, gainAmount, isLongTerm, federalTax, stateTax, niit, netCash), yearGrossProceeds, yearTotalTax, yearNetCash, runningCumulativeNet.'}, 'shortfall': {'type': 'object', 'required': ['maxAchievableAfterTax', 'gap'], 'properties': {'gap': {'type': 'number', 'description': 'Dollars short of the target.'}, 'maxAchievableAfterTax': {'type': 'number', 'description': 'Maximum after-tax cash in dollars achievable by the target date.'}}, 'description': 'Present only when the target is not reachable from the available inventory.'}, 'comparison': {'type': 'object', 'required': ['sellAllInTargetYearTotalTax', 'sellAllInTargetYearAfterTax', 'optimizedSavingsVsTargetYearSale', 'optimizedSavingsPct'], 'properties': {'optimizedSavingsPct': {'type': 'number', 'description': 'Tax saved as a fraction of the naive plan tax.'}, 'sellAllInTargetYearAfterTax': {'type': 'number', 'description': 'After-tax cash in dollars under that naive plan.'}, 'sellAllInTargetYearTotalTax': {'type': 'number', 'description': 'Tax in dollars if all needed shares were sold in the target year.'}, 'optimizedSavingsVsTargetYearSale': {'type': 'number', 'description': 'Tax saved in dollars by this schedule vs the naive plan.'}}, 'description': 'This schedule vs the naive sell-everything-in-the-target-year alternative.'}, 'totalTaxes': {'type': 'object', 'required': ['federal', 'state', 'niit', 'total'], 'properties': {'niit': {'type': 'number', 'description': 'Net Investment Income Tax (3.8%) in dollars.'}, 'state': {'type': 'number', 'description': 'State tax in dollars.'}, 'total': {'type': 'number', 'description': 'Total tax in dollars.'}, 'federal': {'type': 'number', 'description': 'Federal capital gains / ordinary tax in dollars.'}}, 'description': 'Tax totals across all scheduled sales, in dollars.'}, 'targetDateISO': {'type': 'string', 'description': 'Echo of the target date as an ISO date string.'}, 'targetAfterTax': {'type': 'number', 'description': 'Echo of the requested net cash target in dollars.'}, 'remainingShares': {'type': 'number', 'description': 'Shares retained after all scheduled sales.'}, 'totalSharesSold': {'type': 'number', 'description': 'Total shares sold across the schedule.'}, 'totalGrossProceeds': {'type': 'number', 'description': 'Total gross sale proceeds in dollars.'}, 'remainingNetByStack': {'type': 'array', 'items': {'type': 'number'}, 'description': 'Per-stack after-tax retained value in dollars, parallel to the input stacks array.'}, 'totalAfterTaxAchieved': {'type': 'number', 'description': 'Net after-tax cash in dollars the schedule produces by the target date (including after-tax cash interest when cashInterestRate is set).'}, 'remainingPositionValue': {'type': 'number', 'description': 'Market value in dollars of retained shares at the projected target-date price.'}, 'remainingPositionAfterTax': {'type': 'number', 'description': 'After-tax value in dollars of liquidating all retained shares at the target date (the cash backstop if scheduled sales come in light).'}}, 'description': 'The full sale schedule for this plan. Nested year/sale entries follow the shapes described here and may carry additional fields.'}, 'planKey': {'enum': ['recommended', 'lock_in_now', 'balanced', 'hold_for_growth', 'candidate'], 'type': 'string', 'description': 'Plan identifier. "candidate" entries appear only inside frontier.'}, 'totalTax': {'type': 'number', 'description': 'Total tax paid across the plan in dollars.'}, 'planLabel': {'type': 'string', 'description': 'Human-readable plan name.'}, 'lockInFraction': {'type': 'number', 'description': 'Fraction (0..1) of the target locked in by an immediate sale, for hybrid candidates. Omitted on pure named plans.'}, 'wealthAtTarget': {'type': 'number', 'description': 'Total wealth in dollars at the target date: net cash plus retained shares at the projected price. The metric the recommendation maximizes.'}, 'shortfallProbability': {'type': 'number', 'description': 'Lognormal probability (0..1) that realized cash lands below the target. 0 means a deterministic hit (sell everything today).'}}, 'description': 'Sell everything needed in the current calendar year: minimum price risk, usually highest tax.'}, 'recommended': {'type': 'object', 'required': ['planKey', 'planLabel', 'plan', 'wealthAtTarget', 'totalTax', 'shortfallProbability'], 'properties': {'plan': {'type': 'object', 'required': ['feasible', 'targetAfterTax', 'targetDateISO', 'totalAfterTaxAchieved', 'totalSharesSold', 'totalGrossProceeds', 'totalTaxes', 'schedule', 'comparison', 'remainingShares', 'remainingPositionValue', 'remainingPositionAfterTax', 'remainingNetByStack'], 'properties': {'feasible': {'type': 'boolean', 'description': 'True when the schedule reaches the after-tax target by the target date.'}, 'schedule': {'type': 'array', 'items': {'type': 'object', 'additionalProperties': True}, 'description': 'Per-year sale schedule. Each entry: year, saleDateISO, sales (array of per-lot entries: stackIndex, ticker, lotIndex, shares, grossProceeds, gainAmount, isLongTerm, federalTax, stateTax, niit, netCash), yearGrossProceeds, yearTotalTax, yearNetCash, runningCumulativeNet.'}, 'shortfall': {'type': 'object', 'required': ['maxAchievableAfterTax', 'gap'], 'properties': {'gap': {'type': 'number', 'description': 'Dollars short of the target.'}, 'maxAchievableAfterTax': {'type': 'number', 'description': 'Maximum after-tax cash in dollars achievable by the target date.'}}, 'description': 'Present only when the target is not reachable from the available inventory.'}, 'comparison': {'type': 'object', 'required': ['sellAllInTargetYearTotalTax', 'sellAllInTargetYearAfterTax', 'optimizedSavingsVsTargetYearSale', 'optimizedSavingsPct'], 'properties': {'optimizedSavingsPct': {'type': 'number', 'description': 'Tax saved as a fraction of the naive plan tax.'}, 'sellAllInTargetYearAfterTax': {'type': 'number', 'description': 'After-tax cash in dollars under that naive plan.'}, 'sellAllInTargetYearTotalTax': {'type': 'number', 'description': 'Tax in dollars if all needed shares were sold in the target year.'}, 'optimizedSavingsVsTargetYearSale': {'type': 'number', 'description': 'Tax saved in dollars by this schedule vs the naive plan.'}}, 'description': 'This schedule vs the naive sell-everything-in-the-target-year alternative.'}, 'totalTaxes': {'type': 'object', 'required': ['federal', 'state', 'niit', 'total'], 'properties': {'niit': {'type': 'number', 'description': 'Net Investment Income Tax (3.8%) in dollars.'}, 'state': {'type': 'number', 'description': 'State tax in dollars.'}, 'total': {'type': 'number', 'description': 'Total tax in dollars.'}, 'federal': {'type': 'number', 'description': 'Federal capital gains / ordinary tax in dollars.'}}, 'description': 'Tax totals across all scheduled sales, in dollars.'}, 'targetDateISO': {'type': 'string', 'description': 'Echo of the target date as an ISO date string.'}, 'targetAfterTax': {'type': 'number', 'description': 'Echo of the requested net cash target in dollars.'}, 'remainingShares': {'type': 'number', 'description': 'Shares retained after all scheduled sales.'}, 'totalSharesSold': {'type': 'number', 'description': 'Total shares sold across the schedule.'}, 'totalGrossProceeds': {'type': 'number', 'description': 'Total gross sale proceeds in dollars.'}, 'remainingNetByStack': {'type': 'array', 'items': {'type': 'number'}, 'description': 'Per-stack after-tax retained value in dollars, parallel to the input stacks array.'}, 'totalAfterTaxAchieved': {'type': 'number', 'description': 'Net after-tax cash in dollars the schedule produces by the target date (including after-tax cash interest when cashInterestRate is set).'}, 'remainingPositionValue': {'type': 'number', 'description': 'Market value in dollars of retained shares at the projected target-date price.'}, 'remainingPositionAfterTax': {'type': 'number', 'description': 'After-tax value in dollars of liquidating all retained shares at the target date (the cash backstop if scheduled sales come in light).'}}, 'description': 'The full sale schedule for this plan. Nested year/sale entries follow the shapes described here and may carry additional fields.'}, 'planKey': {'enum': ['recommended', 'lock_in_now', 'balanced', 'hold_for_growth', 'candidate'], 'type': 'string', 'description': 'Plan identifier. "candidate" entries appear only inside frontier.'}, 'totalTax': {'type': 'number', 'description': 'Total tax paid across the plan in dollars.'}, 'planLabel': {'type': 'string', 'description': 'Human-readable plan name.'}, 'lockInFraction': {'type': 'number', 'description': 'Fraction (0..1) of the target locked in by an immediate sale, for hybrid candidates. Omitted on pure named plans.'}, 'wealthAtTarget': {'type': 'number', 'description': 'Total wealth in dollars at the target date: net cash plus retained shares at the projected price. The metric the recommendation maximizes.'}, 'shortfallProbability': {'type': 'number', 'description': 'Lognormal probability (0..1) that realized cash lands below the target. 0 means a deterministic hit (sell everything today).'}}, 'description': 'The wealth-maximal plan whose shortfall probability is at or below the applied risk tolerance. This is the plan the risk tolerance selects out of the frontier.'}, 'holdForGrowth': {'type': 'object', 'required': ['planKey', 'planLabel', 'plan', 'wealthAtTarget', 'totalTax', 'shortfallProbability'], 'properties': {'plan': {'type': 'object', 'required': ['feasible', 'targetAfterTax', 'targetDateISO', 'totalAfterTaxAchieved', 'totalSharesSold', 'totalGrossProceeds', 'totalTaxes', 'schedule', 'comparison', 'remainingShares', 'remainingPositionValue', 'remainingPositionAfterTax', 'remainingNetByStack'], 'properties': {'feasible': {'type': 'boolean', 'description': 'True when the schedule reaches the after-tax target by the target date.'}, 'schedule': {'type': 'array', 'items': {'type': 'object', 'additionalProperties': True}, 'description': 'Per-year sale schedule. Each entry: year, saleDateISO, sales (array of per-lot entries: stackIndex, ticker, lotIndex, shares, grossProceeds, gainAmount, isLongTerm, federalTax, stateTax, niit, netCash), yearGrossProceeds, yearTotalTax, yearNetCash, runningCumulativeNet.'}, 'shortfall': {'type': 'object', 'required': ['maxAchievableAfterTax', 'gap'], 'properties': {'gap': {'type': 'number', 'description': 'Dollars short of the target.'}, 'maxAchievableAfterTax': {'type': 'number', 'description': 'Maximum after-tax cash in dollars achievable by the target date.'}}, 'description': 'Present only when the target is not reachable from the available inventory.'}, 'comparison': {'type': 'object', 'required': ['sellAllInTargetYearTotalTax', 'sellAllInTargetYearAfterTax', 'optimizedSavingsVsTargetYearSale', 'optimizedSavingsPct'], 'properties': {'optimizedSavingsPct': {'type': 'number', 'description': 'Tax saved as a fraction of the naive plan tax.'}, 'sellAllInTargetYearAfterTax': {'type': 'number', 'description': 'After-tax cash in dollars under that naive plan.'}, 'sellAllInTargetYearTotalTax': {'type': 'number', 'description': 'Tax in dollars if all needed shares were sold in the target year.'}, 'optimizedSavingsVsTargetYearSale': {'type': 'number', 'description': 'Tax saved in dollars by this schedule vs the naive plan.'}}, 'description': 'This schedule vs the naive sell-everything-in-the-target-year alternative.'}, 'totalTaxes': {'type': 'object', 'required': ['federal', 'state', 'niit', 'total'], 'properties': {'niit': {'type': 'number', 'description': 'Net Investment Income Tax (3.8%) in dollars.'}, 'state': {'type': 'number', 'description': 'State tax in dollars.'}, 'total': {'type': 'number', 'description': 'Total tax in dollars.'}, 'federal': {'type': 'number', 'description': 'Federal capital gains / ordinary tax in dollars.'}}, 'description': 'Tax totals across all scheduled sales, in dollars.'}, 'targetDateISO': {'type': 'string', 'description': 'Echo of the target date as an ISO date string.'}, 'targetAfterTax': {'type': 'number', 'description': 'Echo of the requested net cash target in dollars.'}, 'remainingShares': {'type': 'number', 'description': 'Shares retained after all scheduled sales.'}, 'totalSharesSold': {'type': 'number', 'description': 'Total shares sold across the schedule.'}, 'totalGrossProceeds': {'type': 'number', 'description': 'Total gross sale proceeds in dollars.'}, 'remainingNetByStack': {'type': 'array', 'items': {'type': 'number'}, 'description': 'Per-stack after-tax retained value in dollars, parallel to the input stacks array.'}, 'totalAfterTaxAchieved': {'type': 'number', 'description': 'Net after-tax cash in dollars the schedule produces by the target date (including after-tax cash interest when cashInterestRate is set).'}, 'remainingPositionValue': {'type': 'number', 'description': 'Market value in dollars of retained shares at the projected target-date price.'}, 'remainingPositionAfterTax': {'type': 'number', 'description': 'After-tax value in dollars of liquidating all retained shares at the target date (the cash backstop if scheduled sales come in light).'}}, 'description': 'The full sale schedule for this plan. Nested year/sale entries follow the shapes described here and may carry additional fields.'}, 'planKey': {'enum': ['recommended', 'lock_in_now', 'balanced', 'hold_for_growth', 'candidate'], 'type': 'string', 'description': 'Plan identifier. "candidate" entries appear only inside frontier.'}, 'totalTax': {'type': 'number', 'description': 'Total tax paid across the plan in dollars.'}, 'planLabel': {'type': 'string', 'description': 'Human-readable plan name.'}, 'lockInFraction': {'type': 'number', 'description': 'Fraction (0..1) of the target locked in by an immediate sale, for hybrid candidates. Omitted on pure named plans.'}, 'wealthAtTarget': {'type': 'number', 'description': 'Total wealth in dollars at the target date: net cash plus retained shares at the projected price. The metric the recommendation maximizes.'}, 'shortfallProbability': {'type': 'number', 'description': 'Lognormal probability (0..1) that realized cash lands below the target. 0 means a deterministic hit (sell everything today).'}}, 'description': 'Sell only in the target year: maximum expected wealth, maximum price risk.'}, 'targetDateISO': {'type': 'string', 'description': 'Echo of the target date as an ISO date string.'}, 'targetAfterTax': {'type': 'number', 'description': 'Echo of the requested net cash target in dollars.'}, 'appliedRiskTolerance': {'type': 'number', 'description': 'Shortfall-probability tolerance actually applied (default 0.10 when not supplied).'}}, 'description': 'Equity-funding plan comparison: four named plans plus the full risk/wealth frontier. All dollar amounts are USD.'}

{'type': 'object', 'required': ['shares', 'strike', 'currentPrice', 'ordinaryIncome', 'filingStatus', 'stateCode', 'stillEmployed', 'holdYears', 'holdFunding'], 'properties': {'shares': {'type': 'integer', 'minimum': 1, 'description': 'Non-qualified Stock Option (NSO) shares to exercise. Must come from the user.'}, 'strike': {'type': 'number', 'minimum': 0, 'description': 'Strike price per share, USD. Must come from the user.'}, 'ticker': {'type': 'string', 'description': 'Optional public-stock symbol (e.g. "NVDA", "AAPL"). When set, the tool substitutes a cached trailing return for any unsupplied expected-return / sale-price field, and the implied vol as of the last close for any unsupplied volatility. Growth and vol come from different sources, so some symbols resolve only one, and a vol that is not current resolves as nothing. A field the ticker cannot resolve falls through to a "required field" error naming that field: pass it explicitly, or (for the growth/return/sale-price field) pass the string "market" for the S&P 500 trailing average; never invent a number. The covered-tickers resource (resources/list) lists which symbols resolve growth.'}, 'haircut': {'type': 'number', 'maximum': 1, 'minimum': 0, 'description': 'Alternative to `volatility`: the multiplicative volatility-drag haircut on expectedSalePrice already computed for the hold. Supply this OR `volatility` (if both are given, haircut wins). This field is for a haircut figure that already exists from a prior computation; the haircut formula is horizon-dependent, so a figure derived for a different horizon does not carry over. Supplying `volatility` instead lets the tool derive it.'}, 'holdYears': {'type': 'number', 'minimum': 1, 'description': "Years to hold after exercise (minimum 1). At ≥1 year, the appreciation since exercise is LTCG; sub-1-year holds are out of scope. The user's choice, not a modelling detail, and it changes the answer: use the value they gave, and if they gave none, ask for it rather than assuming one."}, 'stateCode': {'enum': ['AK', 'AL', 'AR', 'AZ', 'CA', 'CO', 'CT', 'DC', 'DE', 'FL', 'GA', 'HI', 'IA', 'ID', 'IL', 'IN', 'KS', 'KY', 'LA', 'MA', 'MD', 'ME', 'MI', 'MN', 'MO', 'MS', 'MT', 'NC', 'ND', 'NE', 'NH', 'NJ', 'NM', 'NV', 'NY', 'OH', 'OK', 'OR', 'PA', 'RI', 'SC', 'SD', 'TN', 'TX', 'UT', 'VA', 'VT', 'WA', 'WI', 'WV', 'WY'], 'type': 'string', 'description': 'Two-letter US state code. Drives state ordinary and LTCG treatment.'}, 'volatility': {'type': 'number', 'maximum': 5, 'minimum': 0, 'description': 'Annualized volatility (sigma) of the stock as a decimal (0.72 = 72%). Pass the volatility itself, not a pre-computed drag: the tool derives the horizon-cumulative drag internally, and the correct formula is horizon-dependent. This value must come from the user or from a `ticker` that resolves it as of the last market close; if neither supplies it, ask the user rather than estimating one.'}, 'holdFunding': {'enum': ['sell-to-cover', 'cash'], 'type': 'string', 'description': "How the strike cost and exercise tax are funded. 'sell-to-cover' sells enough shares to cover strike + tax (reduces sharesRetained). 'cash' pays strike + tax from outside funds (full sharesRetained); no extra input is needed - the result reports the outside cash required as the output field cashNeededAtExercise."}, 'currentPrice': {'type': 'number', 'minimum': 0, 'description': 'Current fair market value per share, USD. The bargain element at exercise is shares × (currentPrice − strike). Must come from the user.'}, 'filingStatus': {'enum': ['single', 'married_joint', 'head_household'], 'type': 'string', 'description': 'Federal filing status. Drives ordinary brackets and LTCG brackets used at the hold horizon.'}, 'stillEmployed': {'type': 'boolean', 'description': 'True if still employed at exercise. FICA (Social Security + Medicare + Additional Medicare) applies only when true.'}, 'ordinaryIncome': {'type': 'number', 'minimum': 0, 'description': 'Annual ordinary income before this exercise, USD. Baseline for the bracket walk on the bargain element. Must come from the user. This is taxable income after deductions, not gross wages: the engine applies no standard or itemized deduction to it.'}, 'expectedSalePrice': {'type': ['number', 'string'], 'minimum': 0, 'description': 'Projected $/share at end of holdYears, or the string "market" to project currentPrice at the S&P 500 trailing average when the user has no view. Required unless `ticker` resolves it from currentPrice × (1 + trailing CAGR)^holdYears. This tool has no default for it: a value not stated by the user, not resolved by a covered `ticker`, and not the "market" sentinel is outside the input contract.'}, 'expectedMarketReturn': {'type': ['number', 'string'], 'description': 'Annual after-tax-proceeds reinvestment rate. Defaults to SPY trailing CAGR for holdYears if omitted; the string "market" names that same default explicitly.'}}}

{'type': 'object', 'required': ['exercise', 'bracketJump', 'hold', 'sellNowInvest', 'holdMinusCashless'], 'properties': {'hold': {'type': 'object', 'required': ['funding', 'costBasis', 'strikeCost', 'cashNeededAtExercise', 'sharesSoldToCover', 'sharesRetained', 'effectiveSalePrice', 'expectedGain', 'ltcgFederal', 'ltcgState', 'ltcgTotal', 'afterTaxProceedsAtSale', 'y0OutflowGain', 'y0OutflowLtcgFederal', 'y0OutflowLtcgState', 'y0OutflowLtcgTotal', 'y0OutflowForgoneNet', 'netAtYearN'], 'properties': {'funding': {'enum': ['sell-to-cover', 'cash'], 'type': 'string', 'description': 'How strike cost and exercise tax are funded (echo of holdFunding).'}, 'costBasis': {'type': 'number', 'description': 'Cost basis per share in dollars (the FMV at exercise).'}, 'ltcgState': {'type': 'number', 'description': 'State capital gains tax on the gain in dollars.'}, 'ltcgTotal': {'type': 'number', 'description': 'Total capital gains tax at sale in dollars.'}, 'netAtYearN': {'type': 'number', 'description': 'Net after-tax value of the hold strategy in dollars at end of holdYears (after subtracting forgone market growth).'}, 'strikeCost': {'type': 'number', 'description': 'Total strike cost in dollars: shares x strike.'}, 'ltcgFederal': {'type': 'number', 'description': 'Federal long-term capital gains tax (including NIIT) on the gain in dollars.'}, 'expectedGain': {'type': 'number', 'description': 'Expected capital gain in dollars on the retained shares at sale.'}, 'y0OutflowGain': {'type': 'number', 'description': 'Opportunity-cost gain in dollars the year-0 cash outflow would have earned at the market rate (cash funding only; 0 for sell-to-cover).'}, 'sharesRetained': {'type': 'number', 'description': 'Shares still held after funding the exercise.'}, 'sharesSoldToCover': {'type': 'number', 'description': 'Shares sold at exercise to cover strike + tax (sell-to-cover only; 0 in cash mode).'}, 'effectiveSalePrice': {'type': 'number', 'description': 'Projected sale price per share in dollars at end of holdYears, after the volatility haircut.'}, 'y0OutflowLtcgState': {'type': 'number', 'description': 'State capital gains tax in dollars on the forgone market gain (cash funding only).'}, 'y0OutflowLtcgTotal': {'type': 'number', 'description': 'Total capital gains tax in dollars on the forgone market gain (cash funding only).'}, 'y0OutflowForgoneNet': {'type': 'number', 'description': 'After-tax market growth forgone in dollars by spending cash at exercise: y0OutflowGain - y0OutflowLtcgTotal.'}, 'cashNeededAtExercise': {'type': 'number', 'description': 'Outside cash required at exercise in dollars (strike + tax under cash funding; 0 under sell-to-cover).'}, 'y0OutflowLtcgFederal': {'type': 'number', 'description': 'Federal capital gains tax in dollars on the forgone market gain (cash funding only).'}, 'afterTaxProceedsAtSale': {'type': 'number', 'description': 'After-tax sale proceeds in dollars at end of holdYears.'}}, 'description': 'Exercise now and hold the shares holdYears for long-term capital gains treatment.'}, 'exercise': {'type': 'object', 'required': ['bargainElement', 'federal', 'state', 'socialSecurity', 'medicare', 'additionalMedicare', 'total', 'netCashSellAll'], 'properties': {'state': {'type': 'number', 'description': 'State income tax on the bargain element in dollars.'}, 'total': {'type': 'number', 'description': 'Total tax at exercise in dollars.'}, 'federal': {'type': 'number', 'description': 'Federal ordinary income tax on the bargain element in dollars.'}, 'medicare': {'type': 'number', 'description': 'Medicare tax in dollars.'}, 'bargainElement': {'type': 'number', 'description': 'shares x (currentPrice - strike) in dollars, taxed as ordinary income at exercise.'}, 'netCashSellAll': {'type': 'number', 'description': 'bargainElement - total: net cash in dollars if every share is sold at exercise.'}, 'socialSecurity': {'type': 'number', 'description': 'Social Security tax in dollars (0 when not employed or already past the wage base).'}, 'additionalMedicare': {'type': 'number', 'description': 'Additional Medicare (0.9%) tax in dollars.'}}, 'description': 'Tax bill at exercise on the bargain element (taxed as ordinary W-2 income).'}, 'bracketJump': {'type': ['object', 'null'], 'required': ['fromRate', 'toRate', 'thresholdAtJump'], 'properties': {'toRate': {'type': 'number', 'description': 'Marginal federal rate after the event, as a decimal.'}, 'fromRate': {'type': 'number', 'description': 'Marginal federal rate before the event, as a decimal (0.24 = 24%).'}, 'thresholdAtJump': {'type': 'number', 'description': 'Taxable-income threshold in dollars where the bracket changes.'}}, 'description': 'Marginal federal bracket change caused by the new ordinary income; null when the income stays within one bracket.'}, 'sellNowInvest': {'type': 'object', 'required': ['netCashAtY0', 'marketGain', 'ltcgFederal', 'ltcgState', 'ltcgTotal', 'netAtYearN'], 'properties': {'ltcgState': {'type': 'number', 'description': 'State capital gains tax in dollars on the market gain.'}, 'ltcgTotal': {'type': 'number', 'description': 'Total capital gains tax in dollars on the market gain.'}, 'marketGain': {'type': 'number', 'description': 'Market growth in dollars on the reinvested cash over holdYears.'}, 'netAtYearN': {'type': 'number', 'description': 'Net after-tax value of sell-now-and-invest in dollars at end of holdYears.'}, 'ltcgFederal': {'type': 'number', 'description': 'Federal capital gains tax (including NIIT) in dollars on the market gain at the horizon.'}, 'netCashAtY0': {'type': 'number', 'description': 'Net cash in dollars after exercise tax, available to reinvest.'}}, 'description': 'Counterfactual: sell every share at exercise and reinvest the net cash at expectedMarketReturn for holdYears.'}, 'holdMinusCashless': {'type': 'number', 'description': 'hold.netAtYearN - sellNowInvest.netAtYearN in dollars. Positive favors holding the shares; negative favors selling at exercise and reinvesting.'}}, 'description': 'NSO exercise sell-vs-hold result. All dollar amounts are USD.'}

{'type': 'object', 'required': ['positionValue', 'sector', 'protectionLevel', 'tenorYears'], 'properties': {'sector': {'enum': ['tech_software', 'semiconductors', 'consumer_cyclical', 'consumer_defensive', 'financials', 'healthcare_biotech', 'energy', 'industrials', 'communication', 'broad_market'], 'type': 'string', 'description': 'Sector tag. Drives the default volatility when no explicit `volatility` is supplied (a sector-typical implied volatility).'}, 'ticker': {'type': 'string', 'description': 'Optional public-stock symbol (e.g. "NVDA"). When set without an explicit `volatility`, each leg prices at its own strike\'s chain-implied vol, else at its at-the-money vol as of the last close, else the sector default. Echoed to `tickerLabel` in the response.'}, 'tenorYears': {'type': 'number', 'minimum': 0.25, 'description': "Option tenor in years. 1 = 12-month; 0.25 = ~90-day. The user's choice, not a modelling detail, and it changes the answer: use the value they gave, and if they gave none, ask for it rather than assuming one."}, 'volatility': {'type': 'number', 'maximum': 5, 'minimum': 0, 'description': "Annualized implied volatility (sigma) of the stock. Resolution order: (1) explicit `volatility` if passed; (2) the `ticker`'s implied vol as of the last close; (3) sector-typical IV as last fallback. An explicit value must come from the user; otherwise set a covered `ticker`, or omit and let the sector default apply."}, 'tickerLabel': {'type': 'string', 'description': 'Optional display string echoed back in the result. Not used in pricing.'}, 'positionValue': {'type': 'number', 'minimum': 0, 'description': 'Market value of the underlying single-stock position, USD. Premium and max-loss scale linearly with this. Must come from the user.'}, 'expectedReturn': {'type': 'number', 'description': 'Annual expected stock return (decimal). Drives the real-world drift in the cap-hit / floor-hit probability metrics. Does not affect premium math. Default 0.'}, 'protectionLevel': {'type': 'number', 'maximum': 0.5, 'minimum': 0.05, 'description': "Put strike as (1 − this fraction) × spot. 0.10 = 10% OTM put. Range 0.05..0.50. The user's choice, not a modelling detail, and it changes the answer: use the value they gave, and if they gave none, ask for it rather than assuming one."}, 'spreadRiskLevel': {'type': 'number', 'maximum': 0.2, 'minimum': 0.01, 'description': 'Put-spread floor breach risk: target probability the stock ENDS below the spread\'s short (lower) strike at expiration. Presets 0.20 / 0.10 / 0.05 / 0.01 ("1 in 5 / 10 / 20 / 100"); off-preset values snap to the nearest. A lower value pushes the short strike deeper, widening the protected band and raising the net premium toward the bare put. Only affects the `putSpread` block. Default 0.10.'}}}

{'type': 'object', 'required': ['inputs', 'riskFreeRate', 'realWorldDrift', 'barePut', 'collar', 'putSpread', 'payoffTable', 'payoffRange', 'recommended'], 'properties': {'collar': {'type': 'object', 'required': ['putStrike', 'callStrike', 'netPremium', 'annualCost', 'annualCostPct', 'maxLoss', 'upsideCap', 'upsideCapPct', 'isZeroCost', 'capProbability'], 'properties': {'maxLoss': {'type': 'number', 'description': 'Worst-case loss in dollars with the collar in place.'}, 'putStrike': {'type': 'number', 'description': 'Long put strike in dollars (same floor as the bare put).'}, 'upsideCap': {'type': 'number', 'description': 'Maximum upside in dollars before the short call caps gains: callStrike - position value.'}, 'annualCost': {'type': 'number', 'description': 'Net premium annualized, in dollars per year.'}, 'callStrike': {'type': 'number', 'description': 'Short call strike in dollars (the upside cap level).'}, 'isZeroCost': {'type': 'boolean', 'description': 'True when the solved call strike makes the collar effectively zero net premium.'}, 'netPremium': {'type': 'number', 'description': 'Net premium in dollars: put premium - call premium, floored at 0.'}, 'upsideCapPct': {'type': 'number', 'description': 'Maximum upside as a fraction of position value.'}, 'annualCostPct': {'type': 'number', 'description': 'Annualized net premium as a fraction of position value.'}, 'capProbability': {'type': 'number', 'description': 'Real-world probability (0..1) the stock finishes above the call strike at expiration, i.e. the upside cap binds.'}}, 'description': 'Put financed by a short call: lower or zero net premium in exchange for capped upside.'}, 'inputs': {'type': 'object', 'required': ['positionValue', 'sector', 'volatility', 'volatilitySource', 'pricingMode', 'protectionLevel', 'tenorYears'], 'properties': {'sector': {'type': 'string', 'description': 'Sector tag used for defaults.'}, 'tenorYears': {'type': 'number', 'description': 'Option tenor in years.'}, 'volatility': {'type': 'number', 'description': 'Annualized sigma actually used in pricing, as a decimal.'}, 'pricingMode': {'enum': ['chain-skew', 'flat'], 'type': 'string', 'description': 'How the legs were priced. "chain-skew": each leg is priced at the implied volatility of its own strike, read off the live chain, so the floor put carries the market\'s downside skew and the put spread\'s short leg carries its own. "flat": every leg is priced at the single `volatility` above, which understates what out-of-the-money protection costs and overstates the rebate the spread\'s short leg earns - the quote is an estimate of this structure\'s cost, not a strike-aware one. Reached whenever no live chain applies: an explicit `volatility`, no `ticker`, or a chain that could not be fetched or was not current.'}, 'tickerLabel': {'type': 'string', 'description': 'Display label echoed from the request (ticker or tickerLabel). Omitted when not supplied.'}, 'positionValue': {'type': 'number', 'description': 'Position value priced, in dollars.'}, 'expectedReturn': {'type': 'number', 'description': 'Caller-supplied annual expected return used for probability metrics. Omitted when not supplied.'}, 'protectionLevel': {'type': 'number', 'description': 'Protection level as a fraction below spot (0.10 = 10% OTM put).'}, 'spreadRiskLevel': {'type': 'number', 'description': 'Put spread floor breach risk echoed from the request (snapped to a supported preset). Omitted when not supplied.'}, 'volatilitySource': {'enum': ['explicit', 'ticker', 'sector-default', 'chain'], 'type': 'string', 'description': 'Which source produced the sigma actually priced: "explicit" (caller-supplied), "chain" (interpolated from the stock\'s live option chain at the strike being priced), "ticker" (the stock\'s published at-the-money implied vol as of the last close), or "sector-default" (feed unavailable or ticker uncovered; a sector-typical estimate - tell the user the price is not stock-specific).'}}, 'description': 'Echo of the resolved inputs actually priced: positionValue, sector, volatility (the sigma priced), volatilitySource (where that sigma came from) and pricingMode (how the legs were priced), protectionLevel, tenorYears, plus expectedReturn, spreadRiskLevel, and tickerLabel when supplied.'}, 'barePut': {'type': 'object', 'required': ['strike', 'premium', 'annualCost', 'annualCostPct', 'maxLoss', 'badYearPrice', 'badYearDropPct', 'coveredLossAtBadYear', 'premiumToCoveredRatio', 'expectedProfit', 'premiumToExpectedProfitRatio'], 'properties': {'strike': {'type': 'number', 'description': 'Put strike in dollars: (1 - protectionLevel) x position value.'}, 'maxLoss': {'type': 'number', 'description': 'Worst-case loss in dollars with the put in place: position - strike + premium.'}, 'premium': {'type': 'number', 'description': 'Put premium in dollars for the full tenor.'}, 'annualCost': {'type': 'number', 'description': 'Premium annualized, in dollars per year.'}, 'badYearPrice': {'type': 'number', 'description': 'Position value in dollars at the 10th-percentile (1-in-10 bad year) outcome under real-world drift.'}, 'annualCostPct': {'type': 'number', 'description': 'Annualized premium as a fraction of position value.'}, 'badYearDropPct': {'type': 'number', 'description': 'Bad-year drawdown as a fraction of position value (always >= 0).'}, 'expectedProfit': {'type': 'number', 'description': 'Expected position profit in dollars over the tenor under real-world drift.'}, 'coveredLossAtBadYear': {'type': 'number', 'description': 'Dollars the put pays at the bad-year price; 0 when the bad-year drop never reaches the protection floor.'}, 'premiumToCoveredRatio': {'type': ['number', 'null'], 'description': 'Premium per dollar of bad-year coverage. null (serialized from Infinity) when the put covers nothing at the bad-year price; above ~0.40 the floor is set too deep.'}, 'premiumToExpectedProfitRatio': {'type': ['number', 'null'], 'description': 'Fraction of typical-period expected profit consumed by the premium. null (serialized from Infinity) when expected profit is zero or negative; above ~0.50 the hedge eats most of the upside.'}}, 'description': 'Bare protective put: pay premium for a hard floor.'}, 'putSpread': {'type': 'object', 'required': ['available', 'unavailableReason', 'longStrike', 'longPremium', 'shortStrike', 'shortPremium', 'shortSigma', 'netPremium', 'annualCost', 'annualCostPct', 'maxLossInBand', 'bandWidth', 'shortStrikeDropPct', 'breachProbability', 'riskLevel', 'savingsPct', 'coveredLossAtBadYear'], 'properties': {'available': {'type': 'boolean', 'description': 'False when no useful spread exists at these inputs: the 1-in-N short strike lands at/above the floor (floor already deep for this risk level) or the short leg does not reduce cost. When false, the numeric fields of this block are null and unavailableReason carries the explanation in their place.'}, 'bandWidth': {'type': 'number', 'description': 'Width of the protected band in dollars: longStrike - shortStrike (the spread max payout).'}, 'riskLevel': {'type': 'number', 'description': 'The spreadRiskLevel preset the solve targeted (0.20 / 0.10 / 0.05 / 0.01), after snapping.'}, 'annualCost': {'type': 'number', 'description': 'Net premium annualized, in dollars per year.'}, 'longStrike': {'type': 'number', 'description': 'Long put strike in dollars (same floor as the bare put).'}, 'netPremium': {'type': 'number', 'description': 'Net debit in dollars: long premium - short premium, floored at 0.'}, 'savingsPct': {'type': 'number', 'description': 'Fraction of the bare put premium rebated by the short leg: shortPremium / longPremium.'}, 'shortSigma': {'type': 'number', 'description': 'Annualized sigma used to price the short leg, as a decimal (equals volatility in flat-sigma mode).'}, 'longPremium': {'type': 'number', 'description': 'Long put premium in dollars for the full tenor (same as barePut.premium).'}, 'shortStrike': {'type': 'number', 'description': 'Short put strike in dollars, solved so P(end below it) = spreadRiskLevel.'}, 'shortPremium': {'type': 'number', 'description': 'Short put premium in dollars received for the full tenor.'}, 'annualCostPct': {'type': 'number', 'description': 'Annualized net premium as a fraction of position value.'}, 'maxLossInBand': {'type': 'number', 'description': 'Loss in dollars if the stock ends anywhere inside the protected band (floor holds): position - longStrike + netPremium. Below the short strike, losses resume dollar-for-dollar on top of this.'}, 'breachProbability': {'type': 'number', 'description': 'Achieved real-world probability (0..1) the stock ends below the short strike; approximately spreadRiskLevel after the solve.'}, 'unavailableReason': {'enum': ['floor', 'no-rebate', None], 'type': ['string', 'null'], 'description': "Why the spread is unavailable; null when available. 'floor' = the solved short strike sits at/above the protection floor (or within 1% of position of it). 'no-rebate' = the short leg does not strictly reduce cost."}, 'shortStrikeDropPct': {'type': 'number', 'description': 'Short strike as a drawdown from spot, as a fraction of position value.'}, 'coveredLossAtBadYear': {'type': 'number', 'description': 'Dollars the spread pays at the bad-year price, capped at bandWidth; 0 when the bad-year drop never reaches the floor.'}}, 'description': 'Put debit spread: long put at the protection floor financed by a short put at a lower strike. Cheaper than the bare put and needs no short call (so it works on unexercised employee options a collar cannot cover), but protection stops at the short strike and losses resume below it. The short strike is solved so the real-world probability the stock ENDS below it equals spreadRiskLevel.'}, 'payoffRange': {'type': 'object', 'required': ['lowerPct', 'upperPct'], 'properties': {'lowerPct': {'type': 'number', 'description': 'Lower bound of the modeled price move, as a fraction of spot (negative).'}, 'upperPct': {'type': 'number', 'description': 'Upper bound of the modeled price move, as a fraction of spot.'}}, 'description': 'Price-move range covered by payoffTable, extended at least 15% beyond each collar arm and at least +/-50%.'}, 'payoffTable': {'type': 'array', 'items': {'type': 'object', 'required': ['drawdownPct', 'barePutPnl', 'collarPnl', 'spreadPnl', 'unhedgedPnl'], 'properties': {'collarPnl': {'type': 'number', 'description': 'Position + collar P&L in dollars at this move.'}, 'spreadPnl': {'type': ['number', 'null'], 'description': 'Position + put-spread P&L in dollars at this move. null (serialized from NaN) when putSpread.available is false.'}, 'barePutPnl': {'type': 'number', 'description': 'Position + put P&L in dollars at this move.'}, 'drawdownPct': {'type': 'number', 'description': 'Price move as a fraction of spot (-0.30 = down 30%, 0.2 = up 20%).'}, 'unhedgedPnl': {'type': 'number', 'description': 'Unhedged position P&L in dollars at this move.'}}}, 'description': 'Terminal P&L in dollars at each 10%-step drawdown across payoffRange, for the bare put, the collar, the put spread, and the unhedged position.'}, 'recommended': {'enum': ['collar', 'protective-put', 'put-spread', 'none'], 'type': 'string', 'description': 'Suggested structure, in triage order: collar unless its cap binds too often (>20% probability); then protective-put unless the put is expensive; then put-spread when one is available and cleanly priced (cheaper by construction); none when nothing is clean. The recommended structure is the one whose card carries no warning.'}, 'riskFreeRate': {'type': 'number', 'description': 'Annualized risk-free rate used in option pricing, looked up for the tenor, as a decimal.'}, 'realWorldDrift': {'type': 'number', 'description': 'Annual real-world drift used for the probability metrics: expectedReturn when supplied, else the sector long-run return. Does not affect premium math.'}}, 'description': 'Protective put, zero-cost collar, and put-spread pricing on a single-stock position. All dollar amounts are USD.'}

{'type': 'object', 'required': ['acquisitionDate', 'saleDate', 'entityType', 'acquisitionMethod', 'assetCategory', 'industry', 'activeBusiness', 'adjustedBasis', 'expectedGain', 'stateCode', 'ordinaryIncome', 'filingStatus'], 'properties': {'industry': {'enum': ['tech-software', 'manufacturing', 'biotech-research', 'retail-wholesale', 'health-services', 'law', 'engineering', 'architecture', 'accounting-actuarial', 'consulting', 'finance', 'farming', 'extraction', 'hospitality', 'performing-arts', 'other-services', 'unsure'], 'type': 'string', 'description': '§1202 Test 4: Industry classification of the corporation. Four values qualify: tech-software, manufacturing, biotech-research, retail-wholesale. Specified service trades or businesses (law, engineering, architecture, accounting-actuarial, consulting, finance, health-services, performing-arts) do NOT qualify, and farming, extraction and hospitality are separately excluded, so they do not qualify either. other-services and unsure return a caveated verdict rather than a pass or fail.'}, 'saleDate': {'type': 'string', 'format': 'date', 'description': 'Planned or actual sale date (YYYY-MM-DD). Together with acquisitionDate determines holdingYears.'}, 'stateCode': {'enum': ['AK', 'AL', 'AR', 'AZ', 'CA', 'CO', 'CT', 'DC', 'DE', 'FL', 'GA', 'HI', 'IA', 'ID', 'IL', 'IN', 'KS', 'KY', 'LA', 'MA', 'MD', 'ME', 'MI', 'MN', 'MO', 'MS', 'MT', 'NC', 'ND', 'NE', 'NH', 'NJ', 'NM', 'NV', 'NY', 'OH', 'OK', 'OR', 'PA', 'RI', 'SC', 'SD', 'TN', 'TX', 'UT', 'VA', 'VT', 'WA', 'WI', 'WV', 'WY'], 'type': 'string', 'description': 'Two-letter US state code. Drives the state-conformity verdict: CA/AL/PA/MS do not conform (full state tax owed); HI/MA partial; NJ 2026-01-01 conformity switch; most others fully conform.'}, 'entityType': {'enum': ['us-c-corp', 'other'], 'type': 'string', 'description': "§1202 Test 1: Type of issuer at the time of acquisition. Only 'us-c-corp' qualifies. S-corps, LLCs, partnerships, and foreign entities fail."}, 'expectedGain': {'type': 'number', 'description': 'Expected total gain on sale, USD. Compared against the per-issuer exclusion cap to compute excludableGain and taxableGain. Must come from the user.'}, 'filingStatus': {'enum': ['single', 'married_joint', 'head_household'], 'type': 'string', 'description': 'Federal filing status. Drives the LTCG bracket on any non-excluded gain and the NIIT MAGI threshold.'}, 'adjustedBasis': {'type': 'number', 'minimum': 0, 'description': 'Adjusted basis of the QSBS shares, USD. Used in the 10× basis cap: the per-issuer exclusion cap is max($10M, 10 × adjustedBasis). Must come from the user.'}, 'assetCategory': {'enum': ['under-50m', '50m-to-75m', 'over-75m', 'unsure'], 'type': 'string', 'description': "§1202 Test 3: Aggregate gross assets of the issuing corporation at the time of issuance. 'under-50m' qualifies pre-OBBBA. '50m-to-75m' qualifies ONLY under OBBBA 2026+ (post-2025-07-05). 'over-75m' never qualifies. 'unsure' returns a partial verdict."}, 'activeBusiness': {'enum': ['yes', 'no', 'unsure'], 'type': 'string', 'description': "§1202 Test 5: Did the corporation use ≥80% of its assets in the active conduct of a qualified trade throughout the holding period? 'yes' qualifies. 'no' fails. 'unsure' returns a partial verdict (user should confirm with their CFO)."}, 'ordinaryIncome': {'type': 'number', 'minimum': 0, 'description': 'Annual ordinary income, USD. Baseline for the federal LTCG bracket on any taxable gain. Must come from the user. This is taxable income after deductions, not gross wages: the engine applies no standard or itemized deduction to it.'}, 'acquisitionDate': {'type': 'string', 'format': 'date', 'description': 'Date the QSBS shares were acquired (YYYY-MM-DD). Drives the holding-period test and the era classification (50% pre-2009 era, 75% pre-2010 era, 100% after a 5-year hold for acquisitions from 2010-09-28 through 2025-07-04, OBBBA tiered after 2025-07-05).'}, 'acquisitionMethod': {'enum': ['original-issuance', 'gift-or-inheritance', 'secondary', 'unsure'], 'type': 'string', 'description': "§1202 Test 2: How the user obtained the shares. 'original-issuance' (direct from the company) qualifies. 'gift-or-inheritance' tacks the original holder's basis and clock. 'secondary' (bought on a secondary market) does NOT qualify. 'unsure' triggers a partial verdict."}}}

{'type': 'object', 'required': ['verdict', 'exclusionPercent', 'perIssuerCap', 'tenXBasisCap', 'applicableCap', 'excludableGain', 'taxableGain', 'federalTaxSaved', 'stateConforms', 'holdingYears', 'yearsUntilFullExclusion', 'era', 'tests'], 'properties': {'era': {'enum': ['pre-2009', 'pre-2010', 'pre-obbba', 'obbba'], 'type': 'string', 'description': 'Acquisition-era classification that sets the exclusion schedule (50% pre-2009 era, 75% pre-2010 era, 100% at 5y pre-OBBBA, tiered 50/75/100% at 3/4/5y under OBBBA).'}, 'tests': {'type': 'array', 'items': {'type': 'object', 'required': ['id', 'label', 'status', 'detail'], 'properties': {'id': {'type': 'string', 'description': 'Stable test identifier.'}, 'label': {'type': 'string', 'description': 'Human-readable test name.'}, 'detail': {'type': 'string', 'description': 'One-line explanation of the test outcome.'}, 'status': {'enum': ['pass', 'fail', 'unsure', 'wait'], 'type': 'string', 'description': '"wait" means the test will pass with more holding time.'}}}, 'description': 'The six statutory tests with per-test status, identifying any gate that failed.'}, 'verdict': {'enum': ['qualifies', 'partial', 'too-soon', 'caveats', 'disqualified'], 'type': 'string', 'description': 'Overall verdict. "partial" = qualifies but at a sub-100% exclusion tier (e.g. an OBBBA 3- or 4-year hold gives 50% or 75%). "caveats" = qualifies, but one or more tests returned "unsure" (pass conditional on facts the caller marked unknown). "too-soon" = the holding period has not reached any exclusion tier yet.'}, 'stateNote': {'type': 'string', 'description': 'Per-state conformity explanation. May be omitted.'}, 'taxableGain': {'type': 'number', 'description': 'Portion of expectedGain still federally taxable in dollars (overage above the cap plus any non-excluded fraction).'}, 'holdingYears': {'type': 'number', 'description': 'Calendar-aware years between acquisitionDate and saleDate.'}, 'perIssuerCap': {'type': 'number', 'description': 'Statutory per-issuer cap in dollars: $10M pre-OBBBA, $15M for stock acquired after July 4, 2025.'}, 'tenXBasisCap': {'type': 'number', 'description': '10 x adjustedBasis cap in dollars.'}, 'applicableCap': {'type': 'number', 'description': 'max(perIssuerCap, tenXBasisCap): the exclusion cap actually applied, in dollars.'}, 'stateConforms': {'enum': ['full', 'partial', 'none'], 'type': 'string', 'description': 'Whether the user state conforms to the federal 1202 exclusion.'}, 'excludableGain': {'type': 'number', 'description': 'Portion of expectedGain excludable from federal tax in dollars.'}, 'federalTaxSaved': {'type': 'number', 'description': 'Federal LTCG tax (including NIIT) avoided on the excluded gain, in dollars.'}, 'exclusionPercent': {'enum': [0, 0.5, 0.75, 1], 'type': 'number', 'description': 'Fraction of the capped gain excludable from federal tax, per the era and holding-period tier.'}, 'cappedOverageNote': {'type': 'string', 'description': 'Present only when expectedGain exceeds applicableCap and an exclusion is in play: explains that the overage is fully taxable regardless of holding period and that spreading shares across separate taxpayers (e.g. non-grantor trusts) can multiply the per-issuer exclusion. Omitted otherwise.'}, 'yearsUntilFullExclusion': {'type': 'number', 'description': 'Additional years to hold before reaching the 100% exclusion tier; 0 when already reached.'}}, 'description': 'Section 1202 QSBS qualification result. All dollar amounts are USD.'}

{'type': 'object', 'required': ['lots', 'currentPrice', 'divestFraction', 'horizonYears', 'ordinaryIncome', 'filingStatus', 'stateCode'], 'properties': {'lots': {'type': 'array', 'items': {'type': 'object', 'required': ['vestDate', 'shares', 'costBasisPerShare'], 'properties': {'shares': {'type': 'number', 'description': 'Shares still held from this vest. Fractional allowed (dividend-reinvest / net-settlement lots).', 'exclusiveMinimum': 0}, 'vestDate': {'type': 'string', 'format': 'date', 'description': 'Date this lot vested (YYYY-MM-DD), on or before today. Drives long-term-vs-short-term status and the long-term-crossing sale date.'}, 'costBasisPerShare': {'type': 'number', 'minimum': 0, 'description': "Per-share cost basis, USD: the share price on vest day, which your broker's lot-detail page lists."}}}, 'maxItems': 20, 'minItems': 1, 'description': 'The vested RSU lots still held (after any sell-to-cover), one entry per vest tranche. The tool decides which of these to sell and when. Unvested grants are out of scope. At most 20 lots per call, the same cap the web calculator uses. With more tranches than that, combine the ones sharing a vest date and cost basis.'}, 'stateCode': {'enum': ['AK', 'AL', 'AR', 'AZ', 'CA', 'CO', 'CT', 'DC', 'DE', 'FL', 'GA', 'HI', 'IA', 'ID', 'IL', 'IN', 'KS', 'KY', 'LA', 'MA', 'MD', 'ME', 'MI', 'MN', 'MO', 'MS', 'MT', 'NC', 'ND', 'NE', 'NH', 'NJ', 'NM', 'NV', 'NY', 'OH', 'OK', 'OR', 'PA', 'RI', 'SC', 'SD', 'TN', 'TX', 'UT', 'VA', 'VT', 'WA', 'WI', 'WV', 'WY'], 'type': 'string', 'description': 'Two-letter US state code (e.g. CA, NY, TX). Drives state capital-gains treatment (CA taxes gains as ordinary; WA/TX/FL have no tax on most capital gains).'}, 'currentPrice': {'type': 'number', 'minimum': 0, 'description': 'Current share price, USD. Every sale, on every date, is priced at this value (flat-price assumption). This value must come from the user.'}, 'filingStatus': {'enum': ['single', 'married_joint', 'head_household'], 'type': 'string', 'description': 'Federal filing status. Drives LTCG brackets, the NIIT threshold, and state bracket lookups.'}, 'horizonYears': {'type': 'integer', 'maximum': 3, 'minimum': 1, 'description': "Tax years the plan may span: 1 = sell everything now, 2, or 3. More years let the plan spread gains across brackets and defer short-term lots to long-term, at the cost of staying exposed to the stock longer. The user's choice, not a modelling detail, and it changes the answer: use the value they gave, and if they gave none, ask for it rather than assuming one."}, 'divestFraction': {'type': 'number', 'maximum': 1, 'minimum': 0.1, 'description': "Fraction of TOTAL shares to divest, as a decimal (0.5 = sell half). Range 0.10 to 1.0. NOTE: a decimal fraction, NOT a percent, so pass 0.5 not 50. The tool sells round(divestFraction x totalShares) shares, floored at 1. The user's choice, not a modelling detail, and it changes the answer: use the value they gave, and if they gave none, ask for it rather than assuming one."}, 'ordinaryIncome': {'type': 'number', 'minimum': 0, 'description': 'Total household ordinary income for the year, USD, from all sources. Sets the federal LTCG bracket floor, the short-term ordinary rate, and the net investment income tax (NIIT) threshold test. This is taxable income after deductions, not gross wages: the engine applies no standard or itemized deduction to it. Assumed constant across plan years. Must come from the user.'}}}

{'type': 'object', 'required': ['sharesToSell', 'totalShares', 'totalGross', 'totalTax', 'totalAfterTax', 'schedule', 'keptUnrealizedGain', 'carryforwardRemaining', 'headlineAfterTaxKept', 'headlineDeltaVsFifo', 'attribution', 'horizonCards', 'deferralCallouts'], 'properties': {'schedule': {'type': 'array', 'items': {'type': 'object', 'required': ['year', 'sales', 'netLong', 'netShort', 'tax', 'effectiveRate', 'carryforwardGenerated'], 'properties': {'tax': {'type': 'number', 'description': 'Total tax for this year (federal + state + NIIT), in dollars.'}, 'year': {'type': 'number', 'description': 'Calendar tax year.'}, 'sales': {'type': 'array', 'items': {'type': 'object', 'required': ['lotIndex', 'vestDate', 'saleDate', 'year', 'shares', 'grossProceeds', 'gainAmount', 'isLongTerm', 'taxAttributed'], 'properties': {'year': {'type': 'number', 'description': 'Calendar tax year of the sale.'}, 'shares': {'type': 'number', 'description': 'Shares sold in this row (may be fractional).'}, 'lotIndex': {'type': 'number', 'description': '0-based index into the input lots array this row draws from.'}, 'saleDate': {'type': 'string', 'description': 'Date this block is sold, ISO date-time string: today, a long-term-crossing date, or Jan 2 of a later plan year.'}, 'vestDate': {'type': 'string', 'description': 'Vest (acquisition) date of the lot, ISO date-time string.'}, 'gainAmount': {'type': 'number', 'description': 'Realized capital gain, negative for a loss, in dollars.'}, 'isLongTerm': {'type': 'boolean', 'description': 'True when the lot was held more than one year at the sale date (long-term capital gain).'}, 'grossProceeds': {'type': 'number', 'description': 'Gross sale proceeds in dollars (shares x current price; flat-price assumption).'}, 'taxAttributed': {'type': 'number', 'description': 'Signed tax attributed to this row in dollars; a loss row is negative (the tax it removes).'}}, 'description': 'One vested lot sold, in whole or part, on one date.'}, 'description': 'Per-lot sale rows in this year.'}, 'netLong': {'type': 'number', 'description': 'Net long-term gain or loss after netting, in dollars.'}, 'netShort': {'type': 'number', 'description': 'Net short-term gain or loss after netting, in dollars.'}, 'effectiveRate': {'type': 'number', 'description': 'Year tax divided by year net gain, 0..1.'}, 'carryforwardGenerated': {'type': 'number', 'description': 'Capital loss carried into the next plan year from this year, in dollars (0 when the year nets positive).'}}, 'description': 'All sales in one tax year, after Schedule D netting.'}, 'description': 'The sell plan, grouped by tax year.'}, 'totalTax': {'type': 'number', 'description': 'Total plan tax across all years (federal LTCG + NIIT + state, net of in-plan loss carryforward), in dollars.'}, 'totalGross': {'type': 'number', 'description': 'Gross proceeds from the divested shares, in dollars.'}, 'attribution': {'type': 'object', 'required': ['lotSelection', 'spreadingDeferral', 'total'], 'properties': {'total': {'type': 'number', 'description': 'Total saving vs selling oldest-first, all today, in dollars.'}, 'lotSelection': {'type': 'number', 'description': 'Saving from choosing which lots to sell (equals headlineDeltaVsFifo), in dollars.'}, 'spreadingDeferral': {'type': 'number', 'description': 'Saving from spreading sales across years and deferring for long-term status, in dollars. Can be <= 0 in loss-mix cases.'}}, 'description': 'Telescoping attribution of the total saving vs a FIFO-all-today sale. lotSelection + spreadingDeferral = total.'}, 'totalShares': {'type': 'number', 'description': 'Total shares across all input lots.'}, 'horizonCards': {'type': 'array', 'items': {'type': 'object', 'required': ['horizonYears', 'totalTax', 'afterTaxKept'], 'properties': {'totalTax': {'type': 'number', 'description': 'Total plan tax under this horizon, in dollars.'}, 'afterTaxKept': {'type': 'number', 'description': 'After-tax proceeds from the divested shares under this horizon, in dollars.'}, 'horizonYears': {'type': 'number', 'description': 'Plan length in tax years (1 = sell all now, 2, or 3).'}}, 'description': 'Total tax and after-tax proceeds for the same divest target under a given horizon.'}, 'description': 'The same divest target under a 1-year ("all now"), 2-year, and 3-year plan, for the trade-off strip.'}, 'sharesToSell': {'type': 'number', 'description': 'Shares the plan divests (round(divestFraction x totalShares), floored at 1).'}, 'totalAfterTax': {'type': 'number', 'description': 'After-tax proceeds from the divested shares, in dollars.'}, 'deferralCallouts': {'type': 'array', 'items': {'type': 'object', 'required': ['lotIndex', 'longTermDate', 'daysToWait', 'taxSaved', 'amountAtRisk'], 'properties': {'lotIndex': {'type': 'number', 'description': '0-based index into the input lots array.'}, 'taxSaved': {'type': 'number', 'description': 'Tax saved by waiting for long-term treatment, in dollars.'}, 'daysToWait': {'type': 'number', 'description': 'Days from the planned sale date to longTermDate.'}, 'amountAtRisk': {'type': 'number', 'description': 'Position value kept exposed to the stock while waiting, in dollars.'}, 'longTermDate': {'type': 'string', 'description': 'Date the lot becomes long-term, ISO date-time string (a sale strictly after the first vest anniversary).'}}, 'description': 'A short-term lot that becomes long-term if its sale waits past longTermDate.'}, 'description': 'Per-lot short-term-to-long-term deferral opportunities.'}, 'keptUnrealizedGain': {'type': 'number', 'description': 'Unrealized gain still carried by the shares NOT sold, in dollars (deferred, not eliminated).'}, 'headlineDeltaVsFifo': {'type': 'number', 'description': 'Dollars saved versus selling oldest-first (FIFO) on the SAME schedule. Pure lot-selection benefit; >= 0 by construction.'}, 'headlineAfterTaxKept': {'type': 'number', 'description': 'After-tax proceeds under the plan, in dollars: the headline "you keep $X" figure.'}, 'carryforwardRemaining': {'type': 'number', 'description': 'Capital loss remaining at the end of the plan horizon, in dollars (reported, not modeled into future years).'}}, 'description': 'RSU lot-order divest plan: which lots to sell on which dates to divest the target share count at the lowest total tax, versus a first-in-first-out (FIFO) sell order. All dollar amounts are USD.'}

{'type': 'object', 'required': ['shares', 'currentPrice', 'ordinaryIncome', 'filingStatus', 'stateCode', 'stillEmployed', 'holdYears'], 'properties': {'shares': {'type': 'integer', 'minimum': 1, 'description': 'Restricted Stock Unit (RSU) shares vesting in this tranche. Must come from the user.'}, 'ticker': {'type': 'string', 'description': 'Optional public-stock symbol (e.g. "NVDA", "AAPL"). When set, the tool substitutes a cached trailing return for any unsupplied expected-return / sale-price field, and the implied vol as of the last close for any unsupplied volatility. Growth and vol come from different sources, so some symbols resolve only one, and a vol that is not current resolves as nothing. A field the ticker cannot resolve falls through to a "required field" error naming that field: pass it explicitly, or (for the growth/return/sale-price field) pass the string "market" for the S&P 500 trailing average; never invent a number. The covered-tickers resource (resources/list) lists which symbols resolve growth.'}, 'haircut': {'type': 'number', 'maximum': 1, 'minimum': 0, 'description': 'Alternative to `volatility`: the multiplicative volatility-drag haircut on expectedSalePrice already computed for the hold. Supply this OR `volatility` (if both are given, haircut wins). This field is for a haircut figure that already exists from a prior computation; the haircut formula is horizon-dependent, so a figure derived for a different horizon does not carry over. Supplying `volatility` instead lets the tool derive it.'}, 'holdYears': {'type': 'number', 'maximum': 5, 'minimum': 0.25, 'description': "Years to hold after vest (0.25..5). Below 1 year triggers the short-term capital gains cliff (ordinary rates on appreciation). The user's choice, not a modelling detail, and it changes the answer: use the value they gave, and if they gave none, ask for it rather than assuming one."}, 'stateCode': {'enum': ['AK', 'AL', 'AR', 'AZ', 'CA', 'CO', 'CT', 'DC', 'DE', 'FL', 'GA', 'HI', 'IA', 'ID', 'IL', 'IN', 'KS', 'KY', 'LA', 'MA', 'MD', 'ME', 'MI', 'MN', 'MO', 'MS', 'MT', 'NC', 'ND', 'NE', 'NH', 'NJ', 'NM', 'NV', 'NY', 'OH', 'OK', 'OR', 'PA', 'RI', 'SC', 'SD', 'TN', 'TX', 'UT', 'VA', 'VT', 'WA', 'WI', 'WV', 'WY'], 'type': 'string', 'description': 'Two-letter US state code.'}, 'volatility': {'type': 'number', 'maximum': 5, 'minimum': 0, 'description': 'Annualized volatility (sigma) of the stock as a decimal (0.72 = 72%). Pass the volatility itself, not a pre-computed drag: the tool derives the horizon-cumulative drag internally, and the correct formula is horizon-dependent. This value must come from the user or from a `ticker` that resolves it as of the last market close; if neither supplies it, ask the user rather than estimating one.'}, 'currentPrice': {'type': 'number', 'minimum': 0, 'description': 'Fair market value per share at vest, USD. Also the cost basis on retained shares. Must come from the user.'}, 'filingStatus': {'enum': ['single', 'married_joint', 'head_household'], 'type': 'string', 'description': 'Federal filing status.'}, 'stillEmployed': {'type': 'boolean', 'description': 'True if still employed at vest. Drives FICA applicability and whether the 22% supplemental withholding rule applies.'}, 'ordinaryIncome': {'type': 'number', 'minimum': 0, 'description': 'Annual ordinary income before this vest, USD. Baseline for the bracket walk on the vest amount. Must come from the user. This is taxable income after deductions, not gross wages: the engine applies no standard or itemized deduction to it.'}, 'expectedSalePrice': {'type': ['number', 'string'], 'minimum': 0, 'description': 'Projected $/share at end of holdYears, or the string "market" to project currentPrice at the S&P 500 trailing average when the user has no view. Required unless `ticker` resolves it from currentPrice × (1 + trailing CAGR)^holdYears. This tool has no default for it: a value not stated by the user, not resolved by a covered `ticker`, and not the "market" sentinel is outside the input contract.'}, 'expectedMarketReturn': {'type': ['number', 'string'], 'description': 'Annual after-tax-proceeds reinvestment rate. Defaults to SPY trailing CAGR for holdYears if omitted; the string "market" names that same default explicitly.'}}}

{'type': 'object', 'required': ['vest', 'bracketJump', 'hold', 'sellNowInvest', 'holdMinusSell'], 'properties': {'hold': {'type': 'object', 'required': ['costBasis', 'effectiveSalePrice', 'sharesRetained', 'expectedGain', 'capGainFederal', 'capGainState', 'capGainTotal', 'isLongTerm', 'netAtYearN'], 'properties': {'costBasis': {'type': 'number', 'description': 'Cost basis per share in dollars (FMV at vest).'}, 'isLongTerm': {'type': 'boolean', 'description': 'True when holdYears >= 1, so appreciation gets long-term capital gains treatment.'}, 'netAtYearN': {'type': 'number', 'description': 'Net after-tax value of holding in dollars at end of holdYears: sale proceeds - capGainTotal.'}, 'capGainState': {'type': 'number', 'description': 'State capital gains tax in dollars on the gain.'}, 'capGainTotal': {'type': 'number', 'description': 'Total capital gains tax in dollars at sale.'}, 'expectedGain': {'type': 'number', 'description': 'Expected capital gain in dollars on the retained shares: (effectiveSalePrice - costBasis) x sharesRetained.'}, 'capGainFederal': {'type': 'number', 'description': 'Federal capital gains tax in dollars on the gain: LTCG (including NIIT) when isLongTerm, else the marginal ordinary rate.'}, 'sharesRetained': {'type': 'number', 'description': 'Shares kept after the sell-to-cover dollar-equivalent of the vest tax.'}, 'effectiveSalePrice': {'type': 'number', 'description': 'Projected sale price per share in dollars at end of holdYears, after the volatility haircut.'}}, 'description': 'Keep the after-tax shares for holdYears, then sell.'}, 'vest': {'type': 'object', 'required': ['vestValue', 'federal', 'state', 'socialSecurity', 'medicare', 'additionalMedicare', 'total', 'netCashAtVest', 'federalWithheldAtVest'], 'properties': {'state': {'type': 'number', 'description': 'State income tax on the vest value in dollars.'}, 'total': {'type': 'number', 'description': 'Total tax at vest in dollars.'}, 'federal': {'type': 'number', 'description': 'True federal ordinary income tax on the vest value in dollars (marginal bracket, not the withholding).'}, 'medicare': {'type': 'number', 'description': 'Medicare tax in dollars.'}, 'vestValue': {'type': 'number', 'description': 'shares x currentPrice in dollars, taxed as ordinary income at vest.'}, 'netCashAtVest': {'type': 'number', 'description': 'vestValue - total: net cash in dollars if every share is sold at vest.'}, 'socialSecurity': {'type': 'number', 'description': 'Social Security tax in dollars (0 when not employed or already past the wage base).'}, 'additionalMedicare': {'type': 'number', 'description': 'Additional Medicare (0.9%) tax in dollars.'}, 'federalWithheldAtVest': {'type': 'number', 'description': 'Mandatory federal supplemental withholding in dollars (22% on the first $1M of supplemental wages, 37% above). When less than vest.federal, the difference is owed at tax time.'}}, 'description': 'Tax bill at vest on the full vest value (taxed as ordinary W-2 income).'}, 'bracketJump': {'type': ['object', 'null'], 'required': ['fromRate', 'toRate', 'thresholdAtJump'], 'properties': {'toRate': {'type': 'number', 'description': 'Marginal federal rate after the event, as a decimal.'}, 'fromRate': {'type': 'number', 'description': 'Marginal federal rate before the event, as a decimal (0.24 = 24%).'}, 'thresholdAtJump': {'type': 'number', 'description': 'Taxable-income threshold in dollars where the bracket changes.'}}, 'description': 'Marginal federal bracket change caused by the new ordinary income; null when the income stays within one bracket.'}, 'holdMinusSell': {'type': 'number', 'description': 'hold.netAtYearN - sellNowInvest.netAtYearN in dollars. Positive favors holding the vested shares; negative favors selling at vest and reinvesting.'}, 'sellNowInvest': {'type': 'object', 'required': ['netCashAtY0', 'marketGain', 'capGainFederal', 'capGainState', 'capGainTotal', 'isLongTerm', 'netAtYearN'], 'properties': {'isLongTerm': {'type': 'boolean', 'description': 'True when holdYears >= 1.'}, 'marketGain': {'type': 'number', 'description': 'Market growth in dollars on the reinvested cash over holdYears.'}, 'netAtYearN': {'type': 'number', 'description': 'Net after-tax value of sell-at-vest-and-invest in dollars at end of holdYears.'}, 'netCashAtY0': {'type': 'number', 'description': 'Net cash in dollars at vest available to reinvest (equals vest.netCashAtVest).'}, 'capGainState': {'type': 'number', 'description': 'State capital gains tax in dollars on the market gain.'}, 'capGainTotal': {'type': 'number', 'description': 'Total capital gains tax in dollars on the market gain.'}, 'capGainFederal': {'type': 'number', 'description': 'Federal capital gains tax in dollars on the market gain: LTCG (including NIIT) when isLongTerm, else the marginal ordinary rate.'}}, 'description': 'Counterfactual: sell every share at vest and reinvest the net cash at expectedMarketReturn for holdYears.'}}, 'description': 'RSU sell-at-vest vs hold result. All dollar amounts are USD.'}