- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Sale of NQSO form 1099-B reports no Fed Tax (but tax was withheld) ; TurboTax calulates huge tax
Last year, I have sold via Schwab my former company non-qualified stock options and got 1099-B without federal tax withheld (this field is zero). In my situation, company stock is ordinary income, and as such income from that sale and earned income reported together on the W2. The stock sale info is reported in box 12, code "V". All taxes are reported in W2 as well.
I imported Schwab transactions directly from website, and TT shows huge federal tax.
Right now, it looks like I got double income from stock sale (one included into W2 and another from 1099-B) but paid taxes only on one sale in W2.
But, in fact the taxes were withheld, which is visible on W2 and on the records of individual transactions from Schwab.
How and where could be this discrepancy corrected in Turbo Tax ?
Thanks!