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What means "employee stock plan in turbo tax"?

I have purchased my company stocks through employee shareholding plan during 1995-2005, in which stock purchased (no discount) from my paycheck. Dividends were paid and taxed to me, then reinvested to purchase stock. Would it be considered as employee stock plan in turbo tax? Or regular stock investment?  Not sure even it would make any differences?

I do not have all records but good enough to reconstruct reasonable cost basis. I moved those stocks to a broker, and sold all of them last year, so I received 1099B without cost basis. In turbo tax, I typed in cost basis by myself, and selected date acquired "various", and "long term non-covered". It also asked me "do you have additional info".  Do I need to include more details, e.g., all transaction cost basis and sold price (I have more than 100 transactions...)?  

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What means "employee stock plan in turbo tax"?

The typical employer stock incentive program - RSU, ISO, ESPP, NQSO, etc. - involves a discount of some sort.  Your employer's plan apparently had no overt discount so there's no need to use any of the employer stock "guide me step by step" interviews.  You are reporting the sale of plain-vanilla stock, stock that's no different that a stock you purchased through your broker.

You do have to provide additional info, obviously, but you enter your basis adjustment as a simple "lump sum"; there's no need to provide any lot level detail.  Of course for your own purposes and your own protection, should the IRS ever ask, you do want to have that granular lot level detail.  You staple this information to the paper copy of your "as filed" income tax return that you keep in a safe place.

Tom Young

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What means "employee stock plan in turbo tax"?

The typical employer stock incentive program - RSU, ISO, ESPP, NQSO, etc. - involves a discount of some sort.  Your employer's plan apparently had no overt discount so there's no need to use any of the employer stock "guide me step by step" interviews.  You are reporting the sale of plain-vanilla stock, stock that's no different that a stock you purchased through your broker.

You do have to provide additional info, obviously, but you enter your basis adjustment as a simple "lump sum"; there's no need to provide any lot level detail.  Of course for your own purposes and your own protection, should the IRS ever ask, you do want to have that granular lot level detail.  You staple this information to the paper copy of your "as filed" income tax return that you keep in a safe place.

Tom Young

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