Question regarding 1009-B for sold stock options

[brig2221]

Thanks for everyones help. I got it figured out in Turbo Tax. I need to have put it in the stocks section, but under the ISO. Anyhow, it asked me for the 1099-B info, but also the stock option grant date, exercise date, option stock price, exercised stock price, etc, and had no material effect on my return.

Thanks again for everyone input!

[Like2Plan]

Glad you figured it out. And, you have me starting my own taxes in process.

[safari]

Thanks for everyones help. I got it figured out in Turbo Tax. I need to have put it in the stocks section, but under the ISO. Anyhow, it asked me for the 1099-B info, but also the stock option grant date, exercise date, option stock price, exercised stock price, etc, and had no material effect on my return.

Thanks again for everyone input!

I think you misunderstood what we've been trying to tell you. Please reread the last post by Like2Plan. ISO is not the right place to enter your 1099-B information. ISO stands for Incentive Stock Options which is a different type of stock options. Because you received a W-2 with income reported from exercising your stock options, that means that you had Nonqualified Stock Options (NSO). You have to report your 1099-B information as a regular sale of stocks.

[brig2221]

I think you misunderstood what we've been trying to tell you. Please reread the last post by Like2Plan. ISO is not the right place to enter your 1099-B information. ISO stands for Incentive Stock Options which is a different type of stock options. Because you received a W-2 with income reported from exercising your stock options, that means that you had Nonqualified Stock Options (NSO). You have to report your 1099-B information as a regular sale of stocks.

Safari,

You are correct, that would have been the wrong section (ISO). That said, I just wrote it down wrong.

I am looking at my printed off Turbotax return now. All of the stock option sales printed off on a Schedule D attachment. It lists off the day acquired (bought and sold), sales price, cost, and Gain or Loss. Each gain was off set with a slightly higher loss, I believe taking into account the transaction fee.

Ultimately I was left with a net short-term capital loss of $31. All is well in the world. Thanks again to everyone who helped!