ESPP Compensation income without W2

[Anonymous]

I have compensation income from selling stock that I purchased as an employee in an ESPP. I am retired and don't have a W2 form.

TurboTax computes the compensation income amounts, but I don't see them entered anywhere in the income sections. Should I enter the compensation income manually? If so, where?

[ThomasM125]

The compensation portion of the gain should show in line 1 on your form 1040 if TurboTax calculated it automatically. If not, you can enter it as Other Adjustment to Income as follows:

 - Go to the Wages and Income section of TurboTax

 - Choose  Less Common Income

 - Choose Miscellaneous Income, 1099-A, 1099-C

 - Choose Other reportable Income

 - Enter a description and the amount of your compensation from your ESPP sock sale

You can view your form 1040 while working in the online version of TurboTax by following these steps:

While working on your return in the Federal section of TurboTax:

   1.  Choose the Tax Tools icon on your left menu bar

   2.  Tools

   3.  View Tax Summary

   4.  Choose the Preview my 1040 on your left menu bar

 - 

[Anonymous]

Thanks, the compensation income portion does show up on 1040 line 1 as you said.

Now, for state filing purposes.....

ESPP Stock was acquired in Minnesota in 2015 and sold in 2021 in Utah where I now reside. Do I file 2021 Minnesota taxes for the compensation income, or do I keep them as part of my Utah taxable income?

[DaveF1006]

It depends. If you resided in Utah for the full year in 2021, you will declare this as Utah income for the full year. 

@Anonymous