Double Tax question RSU/ISO/QSOP/QSP

[raykimbrough]

I'm retired and got a W2 from my old employer. On it shows some small income I receive through my deferred compensation plan. ~10k. It also show $88k where I ended up selling a bunch of my old stock. It says my total wages were 98K but only $2k was withheld for income tax. I'm concerned as when I downloaded my stock sales data from Fidelity, I think it's showing I owe taxes on the income per the W2 and cap gains on my 1099-B. I do see a bunch of share where the cost basis was "NOT" reported to the IRS is there and I do have the "supplemental stock plan lot detail" documents that I think I can match to the correct sales downloaded. Do I manually adjust to match the supplemental detail with the sales? I"m concerned that it stil doesn't "cover" all the double taxing in the desktop software.

[AmyC]

1. Yes, you will adjust your basis for the stock. 

2. Your income on the w2 for the stock sales increases the basis of the stock. Therefore, you are only paying ordinary income tax on the employee stock and it is not being double taxed. 

Having held the stock, you would hopefully have a gain on the sale - that would be taxed as capital gains.