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ISO stock options income shown on W2 and being reported on 1099B - why am I being taxed twice?
I exercised ISO shares selling shares in order to buy shares same day and didn't receive any cash - just sold enough shares to buy shares. The proceeds were included in my W2 as income in box 1, so I have to pay ordinary income tax on that money. But, I also received a 1099B from the brokerage and when I enter that into TurboTax for the ISO's, it looks like I'm being taxed a second time on the capital gains for the same amount I was taxed on my W2. What do I do?
‎April 16, 2020
9:53 AM