Thank you very much for the detailed response. I am still struggling with how this would be entered in Turbo Tax. I will clarify a couple points so hopefully that will make the answer a little easier. Hopefully this scenario is relevant to other TT users. Overview, the company I worked for was acquired; as a result, my vested shares were exercised (I hadn't purchased any) and sold on my behalf. The sale price was higher than the grant price . Trying to figure out how to enter this in TT.
1. There is no amount included on my W-2; I confirmed that. (either in box 1 or box 14).
2. I did not receive a 1099-B for the sale; I only received IRS Form 3921. (I am trying to locate a 1099-B. There is nothing listed on the brokerage website which actually completed this for the company & the new company accounting department has not located one.)
3. To keep it simple, let's say I only had 1 share. Grant Date 1/22/2020; Grant price 64 cents, Market price on grant date 64 cents. Settlement Date 10/2/24; Fair Market Value for Exercise $2.20. (The share was sold on my behalf once it was exercised; I did not have to purchase it, they deducted the 64 cents from $2.20 so the 3921 showed "Net Proceeds" = $1.56.)
4. I entered this information in the stock sales since the sale price was the exercise price. TT auto checked W2 disposition amt & Reported on W2. I unchecked Reported on W2. Is it possible it isn't taxable since it was sold
5. I am not sure why you suggested I also complete information in the Other Reportable Income section. (Exercise Mkt Value was the same as Sales Price). Perhaps you thought it sold at a different price than the exercise price?
Any additional clarification would be much appreciated.
thanks again.
