When you have a non qualified stock option (NQSO) exercised, you get both a 1099-B form from the broker and a W2 from the employer for the same gain taken from the exercise of the stock. Therefore, you are doubly charged taxes inappropriately unless you adjust the basis of the stock sale to be negative on Form 8949. However, for TurboTax Premier 2024, this is not allowable in your step by step instructions- you are NOT permitted to adjust the gain to show a negative number. You can only modify Form 8949 manually by changing your view to Forms and overriding the field on the form 8949- that is, part I (g) "amount of Adjustment". When you override, you can not file your return electronically, which is a key reason that I bought Turbotax Premier. You should at least provide explicit instructions that this override is required but preferably TurboTax software engineers should change the code to allow negative numbers for cost basis on form 8949 for NQSO elections so that you can still file electronically. This seems like deceptive advertisement for Premier, which is touted as being able to handle Personal Investment yet a common situation like NQSO exercise can't be managed through your software.
