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Investors & landlords
Having issues following the process to report my ESPP sale. Example numbers, lets assume the stock price was constant. I sold stock at $5000. My 1099-B thinks the cost basis was 4250. But, $750 included in my total in Box 1 of my W-2. I followed the process and adjusted the cost basis to include the $750 - i.e $5000. Turbo tax lets me know that my gain is 0 dollars, good news the adjusted cost basis was incorporated. However, there is still a stock gain of $750 showing as income. And my W-2 amount of course was not adjusted. So I am being double taxed. My question - how do you get the adjusted cost basis to actually affect the final gain displayed and used to calculate my tax.
‎February 20, 2021
2:57 PM