- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
I suggest you delete the stock transaction, start over... Make the cost basis the same as the proceeds, enter date the date you sold your shares for both.... You should have a $0 gain/loss on the stock sold. Don't go into need more help. Your company is the broker. Explainatin will be Company stock options excercised and sold, no 1099.
your taxes will only increase when you input the Other income which will be the amount of the check. So you will be taxed on the FMV of the stock minus your cost to excercise as that is the value that should have been ordinary income. Your taxes should increase probably close to 20-30%% of the cash you received.
**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
‎July 14, 2020
11:06 PM