turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Cover to Sell transaction

My company performed a cover to sell transaction on by behalf.  The 1099-B only shows description of property, date sold, and proceed amount.  Also, the Noncovered security box is checked.

The stocks awarded me as part of my compensation package, is also included on my W-2 so therefore I already paid taxes on the amount.  What do I report for the shares sold?  Is it a short term transaction?  And do I list date acquired the same as the sold date?  And what about cost basis - would that be the the cost per share times the number of shares?  If so, then the basis would be the same as the proceeds - right?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Cover to Sell transaction

Right.  

Cover to Sell transaction

Thanks!  I think I finally got it.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies