Your cost basis is what you paid out-of-pocket for the shares, or it is the value of the shares on the date they vested with you. Given that your W-2 reflects the net proceeds from the sale, it would appear that if you amend your return to add the W-2 wage income, then you will be double-counting this income. Moreover, if the net proceeds are not capital gain (which is what appeared on your 1099-B), but rather wage income (which appears on your W-2), then you would need to amend your return to report the income correctly, and also because capital gain income is taxed at a different rate than wage income.
It is not clear what type of stock you received. For example, when an employee receives Restricted Stock Units (RSUs), the value of those shares on the day they vest with the employee is considered a form of income and gets reported on the W-2. The company will deduct the necessary taxes, i.e., federal and state withholding. When the employee sells the shares, the employee needs to determine whether they have a capital gain or capital loss. The employee does not have to worry about reporting the value of the shares on the vesting day because the company has already done that.
Do you know if your shares were considered RSUs?
@Patrickt80
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