The startup I worked for was acquired last year and my company managed the sale in a cashless same-day exercise in accordance with Revenue Procedure 2002-50.
I received a 3921 and the bargain element was reported on my W2, but due to Rev. Proc. 2002-50, I did not receive a 1099B.
How should I declare this in Turbotax? I've received conflicting advice. Some saying that, because the company followed Rev. Proc. 2002-50, I do not need to declare anything beyond what's already declared on my W2 as the IRS did not receive any 1099B. Others have told me that I need to always file an adjusted Schedule D, and that the IRS expected this due to the 3921, but TurboTax does not allow me to do this without a 1099B.
There is very little information out there on declaring ISO sales using Rev. Proc. 2002-50, so any advice on how to do this with TurboTax would be helpful.
