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Get your taxes done using TurboTax
@jfurukaw The amount you are being taxed on your W-2 is the 'discount' you received as an employee (15% average), when you exercised your option to purchase stock.
The 1099-B shows the Sales Proceeds from the actual stock price when the stock was sold, so you need to enter both your W-2 and the 1099-B.
You will need to adjust the Cost Basis on your 1099-B when you enter it to match what you actually paid for your stock, which may be the reason your tax goes up.
Click this link for detailed info on How to Enter 1099-B for Employee Stock.
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‎February 25, 2021
10:02 AM