AmyC
Expert Alumni

Get your taxes done using TurboTax

W2 box 12 wins for the amount that was added to your income and taxed. That plus any sales expenses equals your adjusted basis in the stocks. 

 

You have your brokerage statement and w2 as proof of your basis. The brokerage did not know the amount your employer added to your w2. What the broker knows plus what you know equals your true basis.

 

I want to urge you to create a financial notebook that is kept separate from your tax return. Keep it safe and each year, add your year-end statements from all your financial accounts plus a copy of your W2’s, your  carryover information, and proof of your basis in your various investments. You must keep tax records  from the time you purchase until sold/ loss used plus 3 years. It is very easy to lose track of disallowed losses / carryforwards/basis.

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