Do I need to amend my return if I just received a 1099-B from my employer?

Forum|Forum|3 years ago
February 9, 2023
2 replies
15 views

I sold 41 shares of stock from my employer stock purchase program which i lost around $500. Do I need to amend my return?

TurboTax Premier Online

ee-ea

Alumni - Champ

Your pending return can not be changed. If your return is accepted you will get an email. If the return is rejected the e-mail will tell you what to correct and you can make changes before e-filing again. Amend to change an accepted return after you get your refund. Instructions below. https://ttlc.intuit.com/community/amending/help/how-to-amend-change-or-correct-a-return-you-already-filed/00/25588

ThomasM125

Level 15

It would be wise to amend the return as the IRS will get a copy of the 1099-B form and may inquire about it later. Since your 1099-B reflects a loss on sale, you can amend your return once it is processed to see if the loss will lower your tax and afford you a refund. Often when you sell employee stock, the income associated with the discount that you purchased the shares at will be reported on your W-2 form. The form 1099-B should then report the gain or loss on the difference between the market value of the shares when you acquired them and the sale price when sold.

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