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Get your taxes done using TurboTax
So here we are in 2021 tax year and TT has STILL not fixed this problem. I am getting the same error. I FINALLY managed to fix my RSU transactions after help from this community, finished my federal taxes, and then during the review this issue pops up. I hesitate to answer 'this is not employee stock' because it WAS. I am very angry right now because I paid for TT Premier JUST FOR THESE STOCK TRANSACTIONS and it is not calculating them correctly. I have done my own taxes with TT for years. I have had stock options (well my husband has) for at least the last 6 years and I have never had this much of a problem with miscalculations. I have spent more time working on my taxes and doing extra research on the side this year than any other year combined. (ok rant over but I had to get this out) Here is an example transaction
From 1099B
Sale: Quantity 320 (these are NQSO)
date acquired 12/17/21
date sold: 12/17/21
proceeds: $2047.98
Cost or other basis: 1779.20
Gain/Loss: 268.78
On the Supplemental Stock Plan Lot Detail (still from 1099B)
Grant type: NQSOP
Date of acquisition: 12/17/21
date sold or disposed: 12/17/21
Proceeds: 2047.98
Ordinary income reported: 272.00
adjusted cost or other basis: 2051.20
wash sale loss disallowed: 0
adjusted gain/loss -3.22
Line 18 number of shares 320
exercise price per share (e) 6.41
date option exercised 12/17/21
FMV/share on exercise date (g) 6.40
Next page I didn't mark anything. Third page asked if from employee stock plan YES. Also YES to it was all through employee stock plan. Fourth page asked what type of employee stock NON QUALIFIED STOCK OPTION PLAN (NQSO). Fifth page had me select employer. Page 6 I selected 'same day cashless exercise'. Seventh page was the date sold and the number of shares sold (12/17/21 and 320)
I then selected single grant lot. Then I got the next page where the problems occur. I used the year end investment report from Fidelity. Under grant transaction details it says
Transaction date 12/17/21
Grant date: 8/4/2017
Grant type NSO
Transaction type Exercise and Net
Quantity 3855.00
Fair Market Value Per Share 6.41
Net Share Proceeds 320.00
Am I entering the wrong number? TT calculated FMV/share as 6.40 from the 1099B figures but it clearly says 6.41 on the year-end investment report. Can anyone help me figure out what I am doing wrong? I am halfway ready to just pay someone to do them or pay extra taxes just to avoid trouble from the IRS.