Filing tax with stock options

taxpayer_2425

Hello,

I was looking for advice regarding my current tax situation described in the example below:

I worked at company X (private and not publicly traded) and received ISO stock options. I exercised 10 stock options at value $1 per stock. The FMV at the time of my exercise is $5. I sold 5 stocks within two months (held onto it for less than a year) through an external agency for $10 per stock. I received a W2, Form 3921 (422b) and 1099-B. My questions are:

1. Is my W2 required to report anything specific in this case? I believe my W2 only reports my regular salary (nothing in boxes 12 or 14).
2. Some amount of commission was deducted by the external agency. Can that be deducted from my profits? This commission is not shown on 1099-B.
3. Can I deduct the purchase price of the stocks from my profits (all or just the portion that was sold)?
4. Does FMV matter at all in my case? Can I just report my total profits as ordinary income (possibly deducting external agency commission and purchase price of stock if applicable)?

Advice on how I should fill out the tax forms for this case, would be greatly appreciated!