You'll need to sign in or create an account to connect with an expert.
There are potentially two issues here.
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
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.
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"?
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!
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
chandra-santamon
New Member
aloha3
New Member
Raftinfool
Returning Member
Tom in Raleigh
Level 4
avigo45
Level 3
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.