r2i forum

Hi all,
I went thru all the blogs and messages on this topic and could not get my doubt clarified. I used to work in US for MNC A.I had stock options from MNC A. When I left the MNC A, my options were fully vested, I did not excise then since I felt the value will increase. So I had option of cash purchase to hold the stock. I paid option price, plus tax based on fair market value when I excercised. I waited for 10 yrs and as my luck would be the share price is still below FMV value for which I was taxed. I have R2Ied and have become ROR also. So now I would like to sell and transfer the proceeds to India. If I sell my share what are my tax implications.
(1). Will I be taxed again in US when I sell the share in US. Remember I have paid tax at accuqistion on FMV which is still above the current share price?
(2). I understand this share will be considered LTCG. But still I will be taxed at 20%+2.4%(educational cess) on this. My question is can we deduct cost of accquisition, ie the tax I paid to IRS before and if any US taxation now when I sell them?
(3). Does Dollar exchange rate have any implcation on above tax? What rate should I use for India tax calculation? Is it dollar rate on the day of sale or is it dollar rate on the day you transfer funds to India.:confused:
I am sure one of you should have experienced this situation and know the facts. Please clarify my doubts. I thank you in advance for taking time and answer my questions.