ESPP

santhosh1987 — Sat, 01 Feb 2025 22:59:21 GMT

Hi
Appreciate your help, please answer

1) I have ESPP stock purchased from employer for 15% , i see it as QSP in the fidelity tax form under supplemental information. Is QSP and ESPP same?
2) If they are same , i am not sure what to put the numbers in turbo tax from supplemental form or tax statement?
I have details in "1099 B short-term transaction for which basis reported to the IRS" under tax reporting statement and also under supplemental information. Which numbers to enter in the turbotax

Numbers in tax reporting:

1d proceeds 1e costbasis Gain/Loss
7999.97 6553.50 1446.77

4787.87 3932.10 856.77

Numbers in supplemental form:

proceeds. Ordinaryincome Adjusted cost or otherbasis(z) Adjusted Gain/Loss
7,999.77 1590 8,143.90 -1443

4,787.87 954.24 4,886.34 -98.47

Box 14 on w2 :
2544.64 ESPDD

What should i fill on Turbotax for Cost or other basis?
(This is for the the first transaction 7999.97 out of two listed above)

Sales section: ( I selected as short-term transaction for which basis reported to the IRS)
What type of investment did you sell? : (selected as ESPP)
Box 1d - Proceeds : 7,999.77 (pre populated)
Cost or other basis: ( should i select 6553.50(from supplemental) or 8,143.90 (from supplemental form)?

Thank you.

Re: ESPP

AmyC — Thu, 06 Feb 2025 19:33:30 GMT

1. An ESPP sale can be a qualifying or nonqualifying disposition. Yours is a qualified disposition of ESPP stock

2. The ordinary income column of your supplemental form is your w2 income.

From tax reporting

Enter the proceeds,

Enter your basis

From the supplemental income/W2

Enter your w2 basis adjustment of 1590 and 954 to show a loss on each stock sale.

topic ESPP in Get your taxes done using TurboTax

ESPP

Re: ESPP