If you are paid $10 million in company stock as part of an advertising contract, you must pay taxes on it as if it was paid to you in cash.
If the value of the stock then goes to $0, then you have a $10 million loss that can only be written off against other capital gains. If you have no other capital gains, then you can only write off a maximum of $3,000 per year against your ordinary income.
So it’s possible that Tom Brady has paid several million dollars in income taxes for shares of stock that are worthless now.
Was FTX a publicly traded company?
If not, how can his shares be valued until he tries to sell them?
However it plays out it’s going to very complicated for Tom and his ex-wife.