Question

1099B

I received a1099B for stock options sold that was already reported ordinary income. Turbo tax has it being double taxed. How do I reconcile the 2

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.

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