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Level 3
posted Feb 1, 2025 2:59:21 PM

ESPP

Hi
Appreciate your help, please answer

1)  I have ESPP stock purchased from employer for 15% , i see it as QSP in the fidelity tax form under supplemental information. Is QSP and ESPP same?
2) If they are same , i am not sure what to put the numbers in turbo tax from supplemental form or tax statement?
I have details in   "1099 B short-term transaction for which basis reported to  the IRS" under tax reporting statement   and also under supplemental information. Which numbers to enter in the turbotax

 

Numbers in tax reporting:

1d proceeds   1e costbasis              Gain/Loss
7999.97                    6553.50               1446.77

4787.87                   3932.10                  856.77

 

Numbers  in supplemental form:

proceeds.        Ordinaryincome          Adjusted cost or otherbasis(z)                  Adjusted Gain/Loss
7,999.77               1590                                             8,143.90                                           -1443

4,787.87                 954.24                                         4,886.34                                          -98.47

Box 14 on w2 :
2544.64 ESPDD

 

What should i fill on Turbotax for Cost or other basis?
(This is for the the first transaction 7999.97 out of two listed above)

Sales section: ( I selected as short-term transaction for which basis reported to  the IRS)
What type of investment did you sell? : (selected as ESPP)
Box 1d - Proceeds : 7,999.77 (pre populated)
Cost or other basis: ( should i select 6553.50(from supplemental) or 8,143.90 (from supplemental form)?

Thank you.

0 1 3957
1 Replies
Expert Alumni
Feb 6, 2025 11:33:30 AM

1.  An ESPP sale can be a qualifying or nonqualifying disposition. Yours is a qualified disposition of ESPP stock

2. The ordinary income column of your supplemental form is your w2 income.

 

From tax reporting

Enter the proceeds, 

Enter your basis

 

From the supplemental income/W2

Enter your w2 basis adjustment of 1590 and 954 to show a loss on each stock sale.