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Returning Member
posted Apr 5, 2025 5:42:17 PM

ESPP: Adjusted Cost Basis does not reduce the tax due

Hi,

 

I have added a ESPP sale by adding details from Form 1099. This results in a small gain and hence increase in small increase in tax due. On the next screen, I check "Adjusted Cost Basis" and enter a new value that results in a loss. However, the tax due remains the same.

 

Any help to understand what is going is appreciated!

 

Thanks!

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2 Replies
Expert Alumni
Apr 5, 2025 5:45:19 PM

After making the change did you continue through the interview and select "Done with Income" to see the results? 

Returning Member
Apr 5, 2025 5:55:22 PM

It looks like I had created this entry some time back (or had used as the default one that is based on 2024 returns). Once, I deleted the whole thing and restarted, I am getting a screen where the requested inputs are different from what I was seeing earlier. Now, after restarting, it seems to be working fine.

 

Thanks for the response!