topic Re: ESPP in Get your taxes done using TurboTax

ESPP

Confused03022020 — Mon, 02 Mar 2020 19:40:37 GMT

I have a 1099-B and form 3922 regarding 2 sales from an ESPP. In one transaction the 1099-B reports that we sold 38 shares and the corresponding info for that transaction on the 3922 reads that we transferred 31 shares. If I enter that in the interview process for the 3922, turbo tax asks me to fix an error accounting for 7 missing shares. Please help.

Thanks

Re: ESPP

DavidD66 — Mon, 02 Mar 2020 19:55:43 GMT

Can you clarify what you mean by "transfer"?

Re: ESPP

ThomasM125 — Mon, 02 Mar 2020 20:20:59 GMT

The form 3922 would report the shares of stock that you exercised, which can be more than the shares sold. However, it seems that you sold more than you exercised. So, Turbo tax needs the exercise information for missing 7 shares that you sold.

Re: ESPP

Confused03022020 — Mon, 02 Mar 2020 20:44:13 GMT

It reads transfer but I assume that means sold. We sell all stock at once when eligible

Re: ESPP

Confused03022020 — Mon, 02 Mar 2020 21:07:03 GMT

I’ve gone through every transaction at the brokerage firm. It shows we sold 31 shares of ESPP, which is what is reported on the 3922. Is it possible that the 1099-B that shows 38 shares is just inaccurate?

Re: ESPP

DavidD66 — Mon, 02 Mar 2020 22:39:26 GMT

Yes, i'ts possible that 38 is incorrect. If you sold all the shares, and the math works using 31 shares (31 x $Sales Price = Proceeds $) then I would just use 31 shares. The important thing is to get the gain and ordinary income correct - the number of shares doesn't matter if the others are correct.