Hmm, looks like we hit a slight snag in this section [ESPP Sale]

[bmprakash]

Hello Team,

I am not able to complete my federal review, due to subjected error message.

After reviewing forum about clearing cookies, trying with multiple devices and multiple browsers....figured out that problem was due to ESPP stock sale.

Calculated Amount of compensation income as per method explained in below ESPP URL and entered in 1099-B section like any other stock sale. Cost basis was Adjusted against the sale as needed.

https://turbotax.intuit.com/tax-tips/investments-and-taxes/empl[product key removed]ase-plans/L8NgMF...

However during final federal review, this ESPP item was tagged as error and was forced me to review.

During review, observed that adjusted cost basis etc was retained ....but amount entered earlier against "Amount of compensation income" is not retained and giving me error message "Hmm, looks like we hit a slight snag in this section".

Not able to close this ESPP sale review. 

Have started over multiple times & struggling for 4 days already with no resolution.

Any help with this snag error is highly appreciated.

Best Regards

Bhanu.

[HelenC12]

I tried your link but I'm getting a 4XXX error. I can't see your tax return, but please see the instructions below on how to enter ESPP. 

Since the gain on that stock sale was included as income on your W-2, to avoid double taxation:

• You will need to change the stock basis on the date of the sale, to the price on the date of sale.  
• The result is zero gain or a minor loss due to brokers commission/fees.  
• The IRS will expect to see that information on your tax return.  

To enter your 1099-B form, see Where do I enter a 1099-B?

For additional information, see the TurboTax article: Non-Qualified Stock Options.

[bmprakash]

Hello Helen,

Thank you for for taking timeout to answer on my request.

My situation comes into Category 4 [Longterm ESPP sale, as i was holding everything for 1+ years after shares were allocated]

I was referring to URL below earlier to understand adjusted cost basis & what we need to report in ESPP sale.

https://turbotax.intuit.com/tax-tips/investments-and-taxes/empl[product key removed]ase-plans/L8NgMF...

My employer has already deducted/with held tax on discount [15%] offered & was shown in previous years  (2016) W2 [Category - V on 12th section]

Current problem is with capturing adjusted cost basis information [SALE PRICE - MARKET Value] inplace of old cost basis [SALE PRICE-Discounted price paid per share] reported by stock broker. To avoid double taxation.....I had to reduce discounted price from cost basis reported by broker.

What ever data we have entered during stock sale section [1099-B] under INCOME category is not retained.

To avoid subjected snag error,  once item is tagged for review in federal section.....i had to enter all the information again using "i will enter this on my own"  button. 

After multiple trials, i managed to find this way out and with this double data entry effort....i was able to by pass this snag error.

Not sure if this is a bug that has surfaced this year during federal review in Turbotax.

Thank you very much 

Best Regards

Bhanu.

[bmprakash]

When i paste URL used in my replies, Extension "L8NgMFpFX" at the end in URL was somehow getting replaced/changed and hence you are receiving 404 error....I tried to click again after replying.

Please Take out " at the beginning and end of the URL below.

"https://turbotax.intuit.com/tax-tips/investments-and-taxes/empl[product key removed]ase-plans/L8NgMF..."

[kennygilbert]

Hi, I have been having the same problem with ESPP sales showing up in review and then giving me the "looks like we hit a snag" message.  Even filling out the info again does not seem to solve the problem.  It also drops the compensation income value I entered when in the review 'redo'.

[kennygilbert]

Ah, I caught the subtle difference in what worked for you.  I did "enter myself" instead of "sounds good".  After entering the same exact numbers, the error was resolved.  This is a bit frustrating given that they recommend you have them 'walk you through'.