Using the example from that thread, let's say I sold stock options for $10,000. I paid for the stock $7,500. So, my taxable gain/income is $2,500.
In my W2 I have $2,500 in the box 12b/V
In 1099-B I have:
1d Proceeds: $10,000
1e Cost or Other Basis (b): $7,500
Gain/Loss: $2,500
4 Federal Income Tax Withheld: 0.00
16 State Tax Withheld: 0.00
Because the form 1099-B doesn't mention tax withheld (it's mentioned in W-2) I need to pay tax for the income ($2,500).
How can I adjust 1099-B in TurboTax to avoid double taxation?
Thank you!
