Turbo Tax says:
"Taxpayers do not need to submit Form 8949 if:
- They received a Form 1099-B that shows that the cost basis was reported to the IRS, and
- The form does not show a non-deductible wash sale loss or adjustments to the basis, gain or loss, or to the type of gain or loss (short term or long term)."
My question is in the case of nonqualified stock option exercise, company also reported the gain from the stock option exercise on W2 (including in Box 1 and also listed on Box 12a with "V" - non-qualified stock option". To avoid being double taxed, one needs to add the amount to the cost base in 1099B. If you add the Box 12a amount the cost base in 1099B, do you then need to submit Form 8949?
Can the IRS easily figure out your final cost = 1099B cost base + W2 Box 12a amount without you explain it?
