topic On ESPP sales, TurboTax changed the name of the stock from the right name to the name of the company I worked for. Will this name discrepancy cause an issue when I file? in Get your taxes done using TurboTax

On ESPP sales, TurboTax changed the name of the stock from the right name to the name of the company I worked for. Will this name discrepancy cause an issue when I file?

ddwyer82 — Sat, 01 Jun 2019 21:28:07 GMT

After I entered ESPP sale information, TurboTax changed the name of the stock to the name of the company I worked for, which is not the company which issued the stock. The sales are covered in a 1099-B with the name of the issuing company and with the cost basis not reported. Will this name discrepancy cause an issue when I file?

"After I entered ESPP sale information, TurboTax changed...

TomYoung — Sat, 01 Jun 2019 21:28:09 GMT

"After I entered ESPP sale information, TurboTax changed the name of the stock to the name of the company I worked for, which is not the company which issued the stock."

Actually, I think you did that without meaning to. When you use the ESPP step by step interview the program throws up the name of your current employer by default - it's the only employer it knows about at that point - and invites you to select that employer or to enter a different name. So I expect you just "clicked through" and ended up with the current employer's name on Form 8949. As a practical matter it probably isn't a big deal but I'd suggest deleting the sale and reentering it with the correct name attached.

If there was any compensation created by the sale, which can be the case even if the sale is "qualified", you should have continued right to the bitter end of the "Stocks, Mutual Funds, Bonds, Other" interview, and not simply clicked away with entering the sale. That's where TurboTax asks the question "was this compensation reported on your W-2?"

Tom Young

Thanks for your response to my dilemma. Let me add some...

ddwyer82 — Sat, 01 Jun 2019 21:28:10 GMT

Thanks for your response to my dilemma. Let me add some clarification, The company I worked for and through which I acquired the ESPP shares is not the same company as the shares acquired through ESPP. The company I worked for is a wholly owned subsidiary (of a wholly owned subsidiary) of the company named on the shares. TurboTax has the correct name of my employer at the time I acquired the ESPP shares. I believe the program should ask before changing the name of the shares. There are 33 sale transactions, so I'm not anxious to delete and reenter.
I did continue to the bitter end and responded that this compensation was not reported on a W-2.