turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

kb09
New Member

I have already filed my taxes and forgot to include Form 3922 because I sold some stocks in 2016. should I amend? By the way, #14 in my w2 is not blank.

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

I have already filed my taxes and forgot to include Form 3922 because I sold some stocks in 2016. should I amend? By the way, #14 in my w2 is not blank.

@kb09

IF you used the correct basis to report the sale, which is the sum of your out of pocket cost + the compensation reported by the sale, THEN you don't have to do anything.  You don't really "file" Form 3922; TurboTax uses that information to calculate the correct cost basis if you use the "ESPP step by step" interview.

IF you didn't use the correct basis, reporting only your out of pocket cost, (this is probably what the broker reported to you), THEN you are double reporting your income; once as compensation reported on the W-2 and then again as an overstatement of "gain" on the sale.  In that case you should look into amending if the overstatement of income is significant.

Tom Young

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question