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Investors & landlords
Yes, company stock that I exercised more than 1 year before the stock was cashed out (sold) due to acquisition. I wish I could review the forms on the backend, but TurboTax online doesn't appear to let you do that unless I am missing something. The tax "professional" via Turbotax Premier Live assured me that everything was correct, but was unable to explain why. I initially thought it was because the capital gain may have put me into a higher tax bracket, therefore all of my income was being taxed at a higher level. But my understanding is that capital gain amounts cannot cause your ordinary income to be taxed at a higher bracket rate.
March 1, 2021
7:04 AM