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Does Turbo Tax Premier for Investments adjust ESPP cost basis to avoid double taxation in the case of a disqualifying disposition?

 
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Level 1

Does Turbo Tax Premier for Investments adjust ESPP cost basis to avoid double taxation in the case of a disqualifying disposition?

Yes.  In the 1099-B entry section, after you enter the basic information for the stock sale, there is a blue button that says "Guide me step-by-step".  Click on that.  On the next page, indicate "I have sales from an Employee Stock Plan, including ESPP, ...." and click on Continue.  On the next page, answer "What type of employee stock plan was this sale from?" with "Employee stock purchase plan (ESPP)".  On the next couple of pages you will enter the details of your ESPP transaction, and TurboTax will calculate the gain and compensation element (that should have been reported in box 1 of Form W-2).

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Level 1

Does Turbo Tax Premier for Investments adjust ESPP cost basis to avoid double taxation in the case of a disqualifying disposition?

Yes.  In the 1099-B entry section, after you enter the basic information for the stock sale, there is a blue button that says "Guide me step-by-step".  Click on that.  On the next page, indicate "I have sales from an Employee Stock Plan, including ESPP, ...." and click on Continue.  On the next page, answer "What type of employee stock plan was this sale from?" with "Employee stock purchase plan (ESPP)".  On the next couple of pages you will enter the details of your ESPP transaction, and TurboTax will calculate the gain and compensation element (that should have been reported in box 1 of Form W-2).