Forgot to file schedule D

[chenkc805]

Hello,

I filed my taxes for the 2021 calendar year, but I forgot to file a schedule D since I sold stocks from my companies stock options and RSUs. The capital gains from these stock options and RSUs were all included in my company's W-2 and were all short-term capital gains, so I paid the correct amount of taxes, I just forgot to report the schedule D.

I'm trying to figure out how to let the IRS know that I forgot to send in a schedule D but from searching online I can't find anything. I e-filed with TurboTax and I'm trying to use their flow to amend my tax return but there's no option to send in an amended schedule D.

Also curious of how bad of a spot I'm in? Any help here would be appreciated, thank you!

Related: I did the same thing (forgot to send in a schedule D) for 2020 but I only realized I had made this mistake after I had already filed my 2021 taxes. So for 2020, I got a CP2501 form from the IRS, which basically just said "Hey your brokerage said you actually netted this much from your stock sales, is this correct?" and I replied "Yes, and here's a filled out schedule D and Form 8949 that I should have filed with you all for the 2020 tax season". Hopefully that closes the loop with the IRS on the 2020 calendar tax year.

[Mike9241]

you probably did not pay tax on any gain from the sale of RSUs and options. the W-2 would likely not have included any gain or loss on the sales.(just like 2020).  you should have gotten a 1099-B.  the IRS will also get a copy so it will know schedule D/form 8949 is missing from your return.  you'll probably get a notice from the IRS. do not amend at this time.  if your return is fully processed before you get the notice, then you can submit an amended return. otherwise, if you get the notice first you can respond as directed

[chenkc805]

I'm positive I paid taxes on the gains, as they were already a part of my income in the W-2 I got from my employer. 

I already got my return fully processed, so should I submit an amended return now? If so, I'm looking through TurboTax (CD Version) and I'm not seeing a way for my to add a Schedule D to my amended return. 

[MinhT1]

When you exercise stock options and/or your RSUs vest, your employer will determine an income element and include in your W-2. For stock options, it is the difference between the exercise price and the FMV of the stock on the day of exercise. For RSUs, it is the FMV of the stocks on the day they vest.

When you sell the stocks, you should receive a form 1099-R and you have capital gain or loss which the difference between the FMV of the shares when you exercise the options or when the RSUs vest. To amend you'll add the form(s) 1099-B in TurboTax and TurboTax will calculate the capital gain/loss and populate Schedule D.

[chenkc805]

Hey Minh,

Thanks for your reply. I'm aware of the all the forms and the math behind the taxes. My question, however, is around e-filing an amendment with the TurboTax CD software. Specifically:

>> I'm trying to figure out how to let the IRS know that I forgot to send in a schedule D but from searching online I can't find anything. I e-filed with TurboTax and I'm trying to use their flow to amend my tax return but there's no option to send in an amended schedule D.

Can you help with this? 👆👆👆

[ThomasM125]

You will have to print your amended form 1040-X and attach the schedule D form and mail it in.