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#1
04-03-2005, 08:25 AM
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W2 includes 1099b. help!What is the name of your state? Ohio I sold ESPP shares for the first time last year. My employer reported by profits as ordinary income added to my gross pay and wages on my W2. I also received a 1099b from the broker. If I go ahead and do the tax part in Turbo Tax for the ESPP's, I end up getting taced on the profits twice since my employer counted the profits in my wages. Can I just use the number on my W2? Lynda |
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#2
04-03-2005, 12:55 PM
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| You take the V coded number from your W-2 and add it to what you paid for the shares. This is your basis. It should be extremely close to the amount on the 1099B, so it will come very close to zeroing out any capital gains, and you may even have a small loss. Snipes
__________________ This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post. |
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