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Get your taxes done using TurboTax
Hi @KeshaH,
Sure, my token is 1295211. NY is the only state on my return.
For context, here is what I did in TurboTax. I added the transaction from my 1099-B as reported. I then checked the "cost basis is incorrect or missing on my 1099-B" box. On the next screen, I selected "I found my adjusted cost basis" and entered $3075. Here is how I arrived at this cost basis.
Shares: 300
Exercise Price: $1.84 * 300 = $552
FMV on Exercise Date: $10.25 * 300 = $3075
Bargain Element: $3075 - $552 = $2523
The $2523, which should be counted as compensation income since it was a disqualifying disposition, was not flowing to any part of my tax return. So what I did was ended up including it under Miscellaneous Income, which then flows to Schedule 1 (1040) line 8z.