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Level 2
posted Jun 4, 2019 2:40:04 PM

Appears error in Form 1099-B entry adding Form 3922 details for cost basis

I entered 1099-B data, cost basis differs based upon "Supplemental Info" supplied so corrected adding "ordinary income reported". Then TurboTax asks that I enter Form 3922 data. Afterwards when I review data I found that the number of shares was changed to a higher number that is incorrect from both 1099-B and 3922 forms.

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1 Best answer
Level 13
Jun 4, 2019 2:40:05 PM

There's no real "income tax reporting" requirement to use the ESPP "guide me step by step" interview if the compensation income created by the sale is reported on your W-2.

Assuming that's the case:

  1. Delete the trade, don't try to edit it, delete it.
  2. Enter the 1099-B exactly as it reads, wrong basis and all
  3. Click the blue "I'll enter additional info" button
  4. On the next page enter the correct basis.

You're done.

Tom Young

1 Replies
Level 13
Jun 4, 2019 2:40:05 PM

There's no real "income tax reporting" requirement to use the ESPP "guide me step by step" interview if the compensation income created by the sale is reported on your W-2.

Assuming that's the case:

  1. Delete the trade, don't try to edit it, delete it.
  2. Enter the 1099-B exactly as it reads, wrong basis and all
  3. Click the blue "I'll enter additional info" button
  4. On the next page enter the correct basis.

You're done.

Tom Young