Investors & landlords

The entry in your screenshot represents ISO Purchase Summary. If the shares were not sold you should keep the entry. 

This amount should be reported as the gross amount on the 2022 Form 1099-B that you'll receive from the broker that handled the sale. 

You will need the Premier version of TurboTax.  There is no same-day sale that I can find however you would report it as a stock sale with the same date for purchase and sale.

To report Sale of ISO:

• In the search bar, enter stock sales and click the Jump to a link
• Under Choose the type of investment you sold, choose ISO
• You will need to adjust your cost basis to include the ISO amount in your W-2.

When you exercise Incentive Stock Options, you buy the stock at a pre-established price, which could be well below actual market value. The advantage of an ISO is you do not have to report income when you receive a stock option grant or when you exercise that option.

You report the taxable income only when you sell the stock. And, depending on how long you own the stock, that income could be taxed at capital gain rates ranging from 0% to 23.8% (for sales in 2022)—typically a lot lower than your regular income tax rate.

• With ISOs, your taxes depend on the dates of the transactions (that is, when you exercise the options to buy the stock and when you sell the stock).
• The price break between the grant price you pay and the fair market value on the day you exercise the options to buy the stock is known as the bargain element.
• There is a catch with Incentive Stock Options, however: you do have to report that bargain element as taxable compensation for Alternative Minimum Tax (AMT) purposes in the year you exercise the options (unless you sell the stock in the same year). We'll explain more about the AMT later.

Please review the information provided in the link below for more information

Incentive Stock Option

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