Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
dsotnikov
New Member

A start-up issued me stock. This is not a US tax form but a form with the number of shares and their nominal value. Where do I input that in TurboTax?

 
3 Replies
JohnB5677
Expert Alumni

A start-up issued me stock. This is not a US tax form but a form with the number of shares and their nominal value. Where do I input that in TurboTax?

There are potentially two issues here.

  • Was the stock a form of payment
  • How the stock will be treated as an investment

The stock was some form of compensation, even though it was just given to you.  Even if you did not receive a tax form it should be reported based on the "Nominal Value".

 

You can enter it this way

  • Wages & Income
  • 1099 MISC and Other Common Income
  • Select Income from a 1099-NEC
  • Enter payer's name
  • EIN Number
  • Amount you received
  • State what it was for
  • Click None of these apply
  • No you do not have expenses to enter

There will not be any tax on the shares of stock until they are sold.  You may however, receive dividends or interest that would be taxable in the year received.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
dsotnikov
New Member

A start-up issued me stock. This is not a US tax form but a form with the number of shares and their nominal value. Where do I input that in TurboTax?

Thanks, John!

 

So just to be clear:

* I use this form even though the stock comes from my employer? Asking because the Box 1 screen says "Nonemployee compensation".

* The amount I enter in Box 1 is what I get by multiplying the number of shares to the nominal value? E.g. if I get a 1,000 shares at $0.1 - I just enter there $100?

* On the Describe the reason screen, do I enter something along the lines of "Equity grant from employer: 1,000 shares with nominal value of $0.1 each"?

WendyN2
Level 7

A start-up issued me stock. This is not a US tax form but a form with the number of shares and their nominal value. Where do I input that in TurboTax?

Yes, the steps you have laid out for yourself are exactly what you will want to do after following John's terrific advice.  You are on the right track!

Dynamic AdsDynamic Ads
Privacy Settings
v