topic Re: Cannot add ISO details in Get your taxes done using TurboTax

Cannot add ISO details

bubuset — Sat, 09 Jan 2021 15:36:47 GMT

Hello,

I have to report a stock sale from previously exercised incentive stock options, and TurboTax doesn't let me fill in the details. The selling price per share (shown in the screenshot) cannot be edited, nor many of the details that come after that. As a result, the transaction is not reported properly on the form (shows up as a gain of $0), and I don't get the right AMT adjustment.

How can this be fixed?

Re: Cannot add ISO details

Irene2805 — Thu, 14 Jan 2021 19:44:22 GMT

Some of the forms and calculations involved with Schedule D and employee stock sales have not yet been finalized but should be in the next few days. You can download updates by clickig on Online (in the black bar at the top of your screen) > Check for Updates.

Re: Cannot add ISO details

bubuset — Fri, 15 Jan 2021 02:13:48 GMT

Thanks,

I updated today and even if Schedule D is declared finalized, the employer stock portion still doesn't work, I still cannot enter a date in those fields.

If you have a contact within the company and could please escalate the issue, that would be appreciated.

Re: Cannot add ISO details

fanfare — Fri, 15 Jan 2021 04:47:30 GMT

Use the "BACK" button to revise the "Date Sold"

Re: Cannot add ISO details

bubuset — Fri, 15 Jan 2021 08:34:58 GMT

Pardon me, but that will not work at all. It is not only the “date sold” that won’t work, also the “sales proceeds” cannot be filled, so the program doesn’t compute the proper AMT adjustment. I have used this section several times in the previous years to generate the right AMT cost basis in addition to the schedule D amounts, and I know how it is supposed to work. It doesn’t this time.

if you try the Stock sale + ISO details you’ll see what I’m talking about. These boxes cannot be filled. I am on Premiere Mac version.

thanks

Re: Cannot add ISO details

bubuset — Fri, 22 Jan 2021 03:28:40 GMT

Hello,

Any update on the above? It's been more than a week, Schedule D has been finalized in the last update, but it is still impossible to enter employer stock details for both NQSO and ISO!

Re: Cannot add ISO details

DianeW777 — Mon, 25 Jan 2021 19:59:00 GMT

These steps should provide you the correct steps for NQSO & ISOs, previously exercised (prior to 2020) and sold in 2020. Do NOT make the selection of ISO Exercise and Hold, under Investment Income in the year of sale when the stock was exercised in an earlier year.

Enter these under Investment Income > Stocks, Mutual Funds, Bonds, Other > Start/Update
- Be sure to select I'll enter myself so that you can change the purchase price to add the FMV difference taxed when you exercised this stock in a prior year.
Enter one sale at a time or choose summary > Continue to enter the details for the ISOs sales
- Be sure to select Long or Short term noncovered as the Sale Category
Included below are the images from TurboTax Desktop version

Re: Cannot add ISO details

bubuset — Tue, 26 Jan 2021 01:13:00 GMT

@DianeW777 Thanks, but that is not my problem.

I am already using exactly the menu you are referring to in the screenshot.
but when you go to actually fill the employer stock details (because we answered “yes” to the employer stock question from the screenshot), you’ll see most fields cannot be edited, they are there but clicking on them doesn’t do anything. As a result, AMT adjustments and other important things won’t be calculated. You can see in the last screenshot the "total proceeds" is 0.

Let me know if you need a screenshot with exactly what I mean, but you really just need to continue the workflow after your screenshot to see what I am talking about.

Re: Cannot add ISO details

bubuset — Tue, 26 Jan 2021 01:13:19 GMT

@DianeW777 to clarify, these are the screenshots of what I am doing, it will show exactly the fields that I am not able to fill, and as a result the AMT adjustment computation never gets filled. Any screen that I get after step 5 is not fillable. This never happened before, I used this same TurboTax workflow for years before.

Re: Cannot add ISO details

DianeW777 — Wed, 27 Jan 2021 22:30:26 GMT

Use this link to put yourself on a list to be notified of updates for this situation. Be sure to click 'go here' Why am I unable to enter selling price?