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Retirement tax questions
Reporting these in Box 19 is not a taxable event if you were awarded shares. It is a taxable event however because you sold these and the sale needs to be reported elsewhere in your return.
- Go to federal>wages and income>investment income>stocks, bonds, other
- Now you will answer some preliminary questions. Say no if you did not receive a 1099B.
- Next screen is critical because it asks you for the sale price, description, what you originally paid for it, date sold, date acquired etc.
- Now you will be asked a question if this was a sale of employee stock, here you will say yes.
- The next screen will ask what type of employee stock is it. Without knowing the specific details of this award, if you are uncertain, just check none of these.
- if you know the type of employee stock it is, you may wish to choose the other options because you may receive more favorable tax treatment.
- Remember, use as the basis the market price you paid for the stock.
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May 5, 2021
8:53 PM