I have qualified ESPP dispositions in 2024 for the stocks I purchased in years 2020, 2021 and 2022. Based on my research, the 15% discount for the lots sold should get added as ordinary income to my W2 box 1. Further, as my 1099-B has the discounted cost basis, my plan is to adjust that to use the FMV at the time of purchase to avoid double taxation. However, I’m not sure if the ESPP discount got added to my 2024 W2 box 1. I believe there’ll be a notation in box 14 regarding the ESPP discount but I don’t see that. Is there any way to find out if the ESPP discount got added as ordinary income on my W2?
If the ESPP discount did not get added as ordinary income to my W2, should I ignore the cost basis adjustment and go forward OR should I get my W2 corrected OR what else should I be doing?
