ESPP form: Why does Premier adds the cost basis of ESPP to the compensation income to derive a total cost. That is not what happened in Windows version of Premier in 2021. I had a profit, not a loss.
Example:
Sold 165 ESPP shares. My purchase price was 6165.39 and my gain at purchase is 4290.66 which I am paying regular taxes on. Premier adds the cost basis and the gain to derive a total cost of 10456. That does not make sense. I bought it for 6165 and sold it for over 7K. I have profit, not loss of 3K as Premier on Mac Calculates. Not an issue on Windows Premier 2021 version
It is not clear why that is happening. And yes, given the information you have provided you have a gain, not a loss. To remedy this situation, you might be able to answer No to the question of having employee stock, which will save you from answering several additional questions that don't always apply. If you don't answer Yes to the employee stock question, and your basis has already been entered correctly, then you don't need to make any more adjustments to your cost basis. If you do need to enter a corrected basis, you can do so on the follow up screen asking about adjustments.
Now whether you received a Form 1099-B, there are two employee stock situations when you must answer Yes to the question about whether you have employee stock. The two situations are when you have Employee Stock Purchase Plan (ESPP) stock and your employer did not include any "compensation income" in your Form W-2 (it's very uncommon for employers to fail to do this), or any time you sell stock acquired through an Incentive Stock Option (ISO) plan. In all other cases, you only need to answer Yes to the question about having an employee stock sale if you don't know the cost basis and need help finding it, or you think you already have the correct cost basis but would like us to walk you through how your cost basis is determined to confirm it's correct. Otherwise, you can answer No to skip several unnecessary questions.
Thus, go back and delete your responses indicating that the stock in question was ESPP stock. Then review the results and follow-up with us regarding your entries, whether they look correct or need further adjustment.
It is not clear why that is happening. And yes, given the information you have provided you have a gain, not a loss. To remedy this situation, you might be able to answer No to the question of having employee stock, which will save you from answering several additional questions that don't always apply. If you don't answer Yes to the employee stock question, and your basis has already been entered correctly, then you don't need to make any more adjustments to your cost basis. If you do need to enter a corrected basis, you can do so on the follow up screen asking about adjustments.
Now whether you received a Form 1099-B, there are two employee stock situations when you must answer Yes to the question about whether you have employee stock. The two situations are when you have Employee Stock Purchase Plan (ESPP) stock and your employer did not include any "compensation income" in your Form W-2 (it's very uncommon for employers to fail to do this), or any time you sell stock acquired through an Incentive Stock Option (ISO) plan. In all other cases, you only need to answer Yes to the question about having an employee stock sale if you don't know the cost basis and need help finding it, or you think you already have the correct cost basis but would like us to walk you through how your cost basis is determined to confirm it's correct. Otherwise, you can answer No to skip several unnecessary questions.
Thus, go back and delete your responses indicating that the stock in question was ESPP stock. Then review the results and follow-up with us regarding your entries, whether they look correct or need further adjustment.