non-statutary stock options

[vasant]

What is the name of your state? TX

In box 12c, I have a certain amount listed with code V. And this amount is supposed to be included in Box 1 (wages, tips ..) and Box 5 (Medicare wages..). This amount is also reported in 1099.

How do I mention this information in Schedule-D so we do not account for this amount twice? or do we need to include this in schedule-D.? if not which form should I fill?

This is regarding 2003 tax return.

 

[Snipes5]

The amount in box 12 with code V is added to the price paid for the stock to determine the stock basis.

You then take the total and put that on Schedule D as "basis" or "cost", so essentially it will zero out or have a small loss.

You must report this on schedule D, or you WILL hear from the IRS, asking you to report it properly.

Snipes