Get your taxes done using TurboTax

@AGratteau 

"That takes me to a screen that allows me to say who the shares belonged to, select the employer listed in our W2s, and the number of shares sold. The next screen is where I entered details from each trade confirm: Date options were granted, Exercise price (per share), Number of shares exercised and Exercise commissions or fees paid."

 

Somehow, and I don't know how, you've stumbled into the "guided" interview, and have entered something incorrectly.  The questions you've mentioned can only come from those interviews.

 

The "normal" way of entering a stock sale, i.e., not guided, is to enter the sale exactly as it reads on the 1099-B, click the "I'll enter additional info on my own" button and on the next page enter the correct basis in the box titled "Corrected cost basis", and that's it.   There's nothing else to do, no other questions to answer.

 

It appears that you entered the wrong exercise price for the option, maybe the stated per share selling price, and TurboTax has calculated a per share FMV based on the net proceeds;that would put you in the error position that's being reported.

 

You can either go back through the interviews and fix the exercise price figure or delete the trades completely and just use the regular interview, correcting the basis.