1099-B employee stock sold while living abroad

derrickbarth — Tue, 22 Jul 2025 11:32:11 GMT

I am a permanent UK resident and have been since 2017. I always enter all income (work wages, stock, etc) in the foreign income section and get the foreign income exclusion.

Last year I had company stock vested, broker is ETrade in the US. For sake of simplicity I'll round the numbers a bit. The total value of the stock was 30k, and my UK employer took out about 50% for taxes, meaning I got about 15k.

This income is included in my foreign income, and I've already paid tax on it to the UK HMRC.

However the 1099-B shows I had proceeds of 15k, and when I enter this in the investment section of TurboTax, it says I owe several thousand in tax. This doesn't feel right to me, as I'd already had 15k tax withdrawn. But ultimately I just want to make sure I'm paying the correct amounts.

Should I not enter the 1099-B form information at all, since that income was included in the foreign income already?

I vaguely recall in years past I needed to adjust the cost basis or similar to make sure I was paying the fair amount owed to IRS. Do I need to do something similar here?

Re: 1099-B employee stock sold while living abroad

derrickbarth — Tue, 22 Jul 2025 12:45:50 GMT

I believe I found the answer.

I needed to look in my ETrade account for the "Stock Plan Transactions Supplement" which shows the adjusted cost basis I need.

topic 1099-B employee stock sold while living abroad in Get your taxes done using TurboTax

1099-B employee stock sold while living abroad

Re: 1099-B employee stock sold while living abroad