How to Report ISO Exercise and Sell in 2023 only received 3921 no 1099-B.

Forum|Forum|2 years ago
March 3, 2024
1 reply
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Following the step by step, did not see any way to enter an ISO exercise and sell in TT Premium 2023. The ISO section in investment income says to report it as an investment sale, but I can't do that since I didn't receive a 1099-B form for the sale, only a 3921, and the prompts in that section only allow you to report 1099-B information. I tried the AMT and "other tax situations", and no check boxes there for an ISO sale in particular either.

The only other thing I came up with was adding it in the Miscellaneous Income section, as "other reportable income", and that seemed like a workaround. Gone was the step by step I remembered in the past where there was a specific section for ISO exercise and sell, and it woul ask for all the prompts regarding sale data, price etc, and work things out for you. What happened? Am I missing something? Is the Miscallaneous Income reporting OK? Thanks in advance for your response.

ThomasM125

Level 15

When you report a sale of stock, you will be asked if it involves employee stock, to which you will answer "yes":

When you enter the sales information, you will pick Incentive stock option for the type of investment you sold and check the box that says the cost basis is wrong or missing:

On the next screen you can indicate that you need help finding the cost basis, and then you will see the screen where you can enter the information off of your Form 3921 to determine your correct cost basis to enter for the stock sale.

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Norcal RichardAuthor

Level 2

Sorry, but this still not work as the step by step only allows you to enter a sale using a 1099-B form. Nowhere is the option to enter a sale without a 1099-B form. However as suggested by another user, the ONLY way to do this with Premium 2023 is to just hit the enter more sales, skip import, stocks bonds mutual funds continue. When there, skip import. Then the page asks for what bank or brokerage is on your 1099. Just enter your transaction in the bank or brokerage field, for example sell XXX shares of XYZ. Then voila, everything now makes sense for an ISO sale.