hello,
I exercised a Non Qualified Stock Option grant (NQSO) that resulted in a 'Sell-to-Cover' shares of stock to cover the taxes that were due for the options I was granted.
Exercise was done on January 10th in 2024 and the grant was awarded to me in 2014 by my employer.
Here are the details:
Grant Type: Nonqual
Grant Price: $10.00
Sale Price: $24.00
Exercise Market Value: $24.99
Shares Exercised: 160
Shares Sold: 52
Shares Issued: 108
Total Gain: 728 (24-10 X 52) + 1618.92 (24.99-10 X 108) = $2346.92
This number ($2346.92) was reported on my W2 in box 12 with a code 'V'.
1099-B I received from the broker has the following:
Quantity: 52
Date Acquired: 1/10/2024
Date Sold: 1/10/2024
Proceeds: $1248 (24 X 52) - Commission ($5) = $1243
Cost Basis: $520
Gain/Loss Amount: $728
I also received a 'Stock Plan Transactions Supplement' from the broker that has an 'Adjusted Cost Basis' for this transaction of $1248 and an associated 'Adjusted Loss' of $5.
I have the following questions:
1) Do I report the sale of 52 shares as NQSO in the 'Sales info' section?
2) Do I enter 'Cost Basis' of $520 along with all the other sale details?
3) Do I select 'The cost basis is incorrect or missing on my 1099‑B' and then on the next page (Adjust your cost basis to ensure your best outcome) enter $1248 as the 'Adjusted Cost Basis'?
OR
3) Do I select 'The cost basis is incorrect or missing on my 1099‑B' and then on the next page (Adjust your cost basis to ensure your best outcome) enter $2346.92 as the 'Adjusted Cost Basis'? This is per Intuit article - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/fix-basis-nqso-sale-also-repor... (How do I fix the basis for an NQSO sale that was also reported on my W-2?)
