I sold some Stock Options in BG-Group (UK listed stock) in 2016. Deloitte sent transaction report with Taxes were withheld based upon a 25% US Tax rate. How do I file?

richwheels1 · ‎June 6, 2019

All details of stock sale are given in GBP

TomYoung · ‎June 6, 2019

You translate the GBP as of the sale date.

You use the "Stocks, Mutual Funds, Bonds, Other" interview and tell TurboTax no 1099-B was received.

If you know what you're doing it's much easier to select "Stocks" on the "Choose the type of investment you sold" page rather than one of the employee stock plan step by step interviews, but they are there if you want to use them.

If that "Taxes" figure is referring to UK taxes you'll need to enter that information using the "Foreign Taxes" interview in the "Deductions & Credits" area.

Tom Young

View solution in original post

TomYoung · ‎June 6, 2019

You translate the GBP as of the sale date.

You use the "Stocks, Mutual Funds, Bonds, Other" interview and tell TurboTax no 1099-B was received.

If you know what you're doing it's much easier to select "Stocks" on the "Choose the type of investment you sold" page rather than one of the employee stock plan step by step interviews, but they are there if you want to use them.

If that "Taxes" figure is referring to UK taxes you'll need to enter that information using the "Foreign Taxes" interview in the "Deductions & Credits" area.

Tom Young

I sold some Stock Options in BG-Group (UK listed stock) in 2016. Deloitte sent transaction report with Taxes were withheld based upon a 25% US Tax rate. How do I file?