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 See I.R.C. § 83. That section provides: Property transferred in connection with performance of services (a) General Rule. - If, in connection with the performance of services, property is transferred to any person other than the person for whom such services are performed, the excess of - (1) the fair market value of such property (determined without regard to any restriction other than a restriction which by its terms will never lapse) at the first time the rights of the person having the beneficial interest in such property are transferable or are not subject to a substantial risk of forfeiture, whichever occurs earlier, over (2) the amount (if any) paid for such property, shall be included in the gross income of the person who performed such services in the first taxable year in which the rights of the person having the beneficial interest in such property are transferable or are not subject to a substantial risk of forfeiture, whichever is applicable. . . . 


(b) Election to include in gross income in year of transfer. - (1) In general. - Any person who performs services in connection with which property is transferred to any person may ...

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