zevo Posted February 23, 2012 Share Posted February 23, 2012 I sold some company granted stock options in december....The net value was like 720$ and then taxes were taken out through that when the sale was made so ended up with roughly 400$ cash....My W-2 shows the 720$ Net amount from the transaction. My question is...is this the only number I have to utilize in doing my return? I was sent a Tax document from Etrade form 1099-B That has a sales value of 4,415$. That was from the sale of the options but my net gain was the 720$...Is the 1099-B form value just for if my company did not report the Net gain on my W-2? This is the first time I have ever sold any stock options...any advice would be appreciated. Link to comment Share on other sites More sharing options...
BarkLessWagMore Posted February 23, 2012 Share Posted February 23, 2012 I sold some company granted stock options in december....The net value was like 720$ and then taxes were taken out through that when the sale was made so ended up with roughly 400$ cash....My W-2 shows the 720$ Net amount from the transaction. My question is...is this the only number I have to utilize in doing my return? I was sent a Tax document from Etrade form 1099-B That has a sales value of 4,415$. That was from the sale of the options but my net gain was the 720$...Is the 1099-B form value just for if my company did not report the Net gain on my W-2? This is the first time I have ever sold any stock options...any advice would be appreciated. that is the proper reporting (for non-qualified stock options). You do need to report the 1099-B transaction on your return (Schedule D/Form 8949). But there will be no gain as your basis is equal to the strike price plus what they added into your W-2. So the sales price would be $4,415, your basis would be $4,415, gain of $0. Hope this helps. Link to comment Share on other sites More sharing options...
zevo Posted February 23, 2012 Author Share Posted February 23, 2012 is the amount that was already taken out for taxes in the sale included in my w-2 as well? I use turbo tax and I wonder if i can just import it all through the program. Link to comment Share on other sites More sharing options...
BarkLessWagMore Posted February 23, 2012 Share Posted February 23, 2012 is the amount that was already taken out for taxes in the sale included in my w-2 as well? I use turbo tax and I wonder if i can just import it all through the program. It should be added into box 1 of your w-2, so yes. Link to comment Share on other sites More sharing options...
zevo Posted February 24, 2012 Author Share Posted February 24, 2012 i just finished up with turbo tax...fortunately turbo tax syncs right up with companies like etrade and scottrade so everything was imported without problems...thanks for your help bark Link to comment Share on other sites More sharing options...
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