topic Re: Form 3922 information in Get your taxes done using TurboTax

Form 3922 information

chengat — Sat, 07 Mar 2020 18:44:20 GMT

I have a Form 3922 for 2019, and sold my ESPP stocks in 2019.

I also received a 1099-B for these sales and have imported this into TurboTax.

I have read that the only time the information in 3922 is used is when the cost basis in 1099-B in not correct.

My questions are:

1. Is there any other use for Form 3922 aside from what I stated?

2. How do I use Form 3922 to check against my 1099-B as to whether or not the cost basis is correct?

Re: Form 3922 information

KarenM90 — Sat, 07 Mar 2020 19:37:41 GMT

Yes, you are correct. Form 3922 is used to make adjustments to the 1099B if the cost basis is not correct.

You need to enter the 1099B just as it is reported on the form, into TurboTax.

However, often the 1099B's cost basis does not include any amounts that were included in your W2 wages (or otherwise paid) when you received the stock, so it is often under-reporting the basis.

Here are more details about Form 3922 and your basis: Where do I enter Form 3922? Employee Stock Purchase Plans

Re: Form 3922 information

B9bot1 — Tue, 31 Mar 2020 19:14:18 GMT

Why does Turbotax ask me for 3922 for everything if it is only a correction. I have 2 items on 3922 one for 11 shares and one for 12 shares. It is asking me to fill stuff out manually but I don't have the information for what it wants. And E-Trade has no info either so I am stuck.

Re: Form 3922 information

DaveF1006 — Thu, 02 Apr 2020 20:28:54 GMT

Just answer what is recorded on the form and see if you can file without the missing information.