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Stock sale on W2 and e-trade

I sold company stock options and received a W2 for that sale. I also must enter the sale through Etrade. How do I avoid reporting this stock sale twice if I have to enter W2 information and Etrade sale of same stock?

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1 Reply
ThomasM125
Expert Alumni

Stock sale on W2 and e-trade

When you enter the Form 1099-B reporting the sale of stock, you can adjust the cost basis if necessary to reflect the income reported on your W-2 form associated with the discount on acquisition of the stock.

 

When you enter your investment sales in TurboTax, you need to indicate that your sales included employee stock:

 

Choose the option to enter your sales one by one. When you enter your stock sale information, check the box that indicates that your cost basis is missing or incorrect:

 

On the next screen, indicate that you need help determining the cost basis, unless you know the correct cost basis in which case you can simply enter that later:

 

Later on you will see a screen that will references form 3922 and on the next screens you can indicate that you have the Form 3922 and you will be able to enter the numbers off of it. If you don't have the Form 3922, you will need to do some research to find the numbers requested in TurboTax:

 

 

 

 

 

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