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Level 3
posted Feb 12, 2022 8:24:51 AM

Using summary form for Cap Gains from ESPP shares - what to mail in?

I sold some of my employer stocks I obtained via ESPP. They are reported on 1099-B with Box D checked, but the cost basis needs to be adjusted. I know you can add every transaction with adjustment and avoid having to mail anything in to IRS. But I am using the summary form where I add only a single entry that lists the total proceeds from all of my ESPP sales and adjusting that single entry. And this requires mailing in to IRS my "statements" along with Form 8453.

 

From the broker, I received 1099-B listing the ESPP sales, as well as Stock Plan Transactions Supplement, which shows the Adjusted Cost Basis for each transaction. I plan on mailing in both the 1099-B and this Stock Plan Transactions Supplement, along with Form 8453. Is this the correct approach? Thank you.

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1 Best answer
Employee Tax Expert
Feb 13, 2022 4:33:37 PM

Yes, that is the correct approach.

1 Replies
Employee Tax Expert
Feb 13, 2022 4:33:37 PM

Yes, that is the correct approach.