The discount amount when you acquired the stock is taxed as ordinary income, which is $15 in your example. You should enter the sale in TurboTax by following these steps:
- Income and expenses
- Investment Income
- Stocks, Mutual Funds, Bonds, Other
- Choose the 1099-B entry option and enter the sale as "One sale at a time"
- Enter the sale proceeds as the amount your received from the sale
- Enter the cost basis as what you paid for the stock
- When you see the screen that says Was this a sale of employee stock? answer Yes and also Yes to the question regarding stock being purchased through an employee stock plan
- Indicate that the sale was from a stock purchase plan (ESPP)
- Work through the rest of that section to have your capital gain and ordinary income calculated and properly entered on your tax return
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