I had a Stock Plan Account from my company and sold the company shares in July, 2020. I received a Form 1099-B from the investment company who managed the plan. I was allocated shares, some of which were used to pay taxes (not sure if that was just federal or federal and state taxes). The net shares I sold were 50. The shares were given to me in April 2019 (I did not purchase the shares).
In the Gain/Loss section of my Turbo Tax PA taxes it shows I have a $320 gain in the Long Term Noncovered line (New Sales Price of $3643 and a Cost Basis of $3323).
I am prompted to check one of four boexes:
1. "This sale is not taxable in PA". -- I am not sure if it is or not.
2. "This asset was acquired before June 1, 1971...". -- it was not
3. " This asset was used for both business and personal purposes". --- it was not
4. "This sale requires an adjustment to the basis of the asset" -- I am not sure what this means
Turbo Tax says PA treats cost basis differently than the federal government does.
My Question: Which box should I check, #1 or #4.
Thanks for your help!!
