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Investors & landlords
Thanks for documenting guys. @ammad_h, I'm in a similar boat. My broker reported to me on my 1099-B both sales my employer made to cover the taxes for my grant & sales I made to trade the remaining stock. When I report the FMV (price day of grant x # of shares) to each of these lines from my 1099-B into my Turbotax form, ultimately, my tax liability goes up a crazy amount.
Considering that I LOST MONEY on the sales (stock price dropped between when I acquired and sold), I would think that I'd be looking more at a refund rather than an amount owed to fed & state.
ex... mockup from 1099-b using @ammad_h 's stock amounts
1a. 1b date acq 1c Dsold 1d Amt 1e CostBasis
16 5/15/15 5/18/15 160 160
34 5/15/15 9/18/15 170 340
*assuming stock stayed the same price between 5/15/15 and 5/18/15. Then stock dropped in half by 9/18/15.
I followed the steps listed above (where I click the "This sale involves an employee stock plan (including ESPP) or an uncommon situation.")...
It seems like there should be a flag or a field in 1f to indicate that the 16 were sold for taxes.
Any thoughts? @TomYoung
-BB
Considering that I LOST MONEY on the sales (stock price dropped between when I acquired and sold), I would think that I'd be looking more at a refund rather than an amount owed to fed & state.
ex... mockup from 1099-b using @ammad_h 's stock amounts
1a. 1b date acq 1c Dsold 1d Amt 1e CostBasis
16 5/15/15 5/18/15 160 160
34 5/15/15 9/18/15 170 340
*assuming stock stayed the same price between 5/15/15 and 5/18/15. Then stock dropped in half by 9/18/15.
I followed the steps listed above (where I click the "This sale involves an employee stock plan (including ESPP) or an uncommon situation.")...
It seems like there should be a flag or a field in 1f to indicate that the 16 were sold for taxes.
Any thoughts? @TomYoung
-BB
‎June 7, 2019
3:02 PM