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ashok95131
Returning Member

Compensation income portion in ISO transaction

My employer put more amount in compensation income part than the gain when ISO (Incentive stock option) was exercised in W2. Turbotax premier calculates that amount based on gain and does not let me edit. How do I edit that part to match my W2?

4 Replies
ashok95131
Returning Member

Compensation income portion in ISO transaction

It appears as if bug in Turbotax software that it does not let me changed compensation income part in Incentive stock option transaction. W2 compensation income is shown higher so I will end up paying more tax and that item does not match in W2. I tried directly going to Forms tab  but Turbotax does not let me edit there also. Any workaround to this issue?

RobertG
Expert Alumni

Compensation income portion in ISO transaction

The employer information from your W-2 and Form 3921 are provided to the IRS.

 

If you change the employer information you will receive correspondence from the IRS matching program.

 

Can you get your employer to correct the forms?

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ashok95131
Returning Member

Compensation income portion in ISO transaction

No chance of getting any response from employer. This is my wife employer and she quit last year. Now company has been bought by someone else and stock admin left.

Should I just click yes when Turbotax ask if Turbotax calculated value matches W2 for ISO income in W2?

 

Thanks,

ashok95131
Returning Member

Compensation income portion in ISO transaction

Could you please give me your phone number so I can call you and solve this? 

With this error I will be paying extra in income tax. In addition TurboTax will flag error. 

Thanks for responding.

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