Cannot add ISO details

Forum|Forum|5 years ago
January 9, 2021
2 replies
23 views

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?

Irene2805

Level 15

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.

bubusetAuthor

Level 2

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.

fanfare

Level 15

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

DianeW777

Level 15

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

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bubusetAuthor

Level 2

@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.