I exercised my nonqualified stock options when I left my previous employer in 2015. I paid tax on the exercise price at the time. I received a W2 for 2015 and another for 2016. Both have amounts in Box 12 with a code of V. Is my cost basis the original exercise price plus the compensation income from both W2s?
Yes, your cost basis is the exercise price, plus the amount of the "bargain element" that was included on your W-2 as wages in Box 1.
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