Question

How do I report ESPP sale without a form 3922

Forum|Forum|1 year ago
September 25, 2024
2 replies
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I sold ESPP shares last year that were purchased back in the 90's. I don't have the form 3922 that was snail mailed to me back then. The current transfer agent who manages the stock doesn't have the form either. I'm stuck on my Turbo Tax page. I can't get past it. It's asking for a lot of required information to be populated like first day of offering period, market price on grant date and market price on purchase date, etc. Is there a way to complete my tax submission without all these specific details?

Cindy4 12

It's possible you may have a supplemental statement from the brokerage. Another option is to look at your W-2s from the years that you acquired the shares. The amount reflected in box 14 as ESPP will be the amount included in our income for the year that would count towards your basis in the shares. This will require a little math on your part based on the number of shares acquired each year and then the resulting sale of those specific shares. It would be best to reach out to the brokerage. They should be able to supply you with all of your prior years documents including the 3922 forms. You could log into their portal and check the "Tax Documents" section and look for prior years there.

Hope this helps!

Cindy

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R

redteesAuthor

Hi Cindy. I contacted the brokerage firm. Unfortunately they are the 3rd or maybe 4th transfer agent handling the stock for this company. They acquired the responsibility in 2000 and did not require all the details to be transferred from the previous agent. I contacted the previous agent and they said they transferred everything to the new agent. So it's a circular reference. As far as W2's, I do not have my tax returns from the 90s. I purge them after 7 years.

I did a chat last night and TurboTax got these instructions:

To report the sale of ESPP shares purchased between 1993 and 1995 without Form 3922, you can still complete your tax return using TurboTax Live Assisted. Here's what you can do:

Enter the ESPP sale information from your brokerage-provided Form 1099-B in TurboTax.
TurboTax will guide you through the process and prompt you for any additional information needed to accurately report the sale.
If you don't have Form 3922, try to reconstruct the details of the ESPP purchase to the best of your ability.
Consider reaching out to a TurboTax Live expert for personalized assistance in handling this situation effectively.

What is "Live Assisted" and are these accurate instructions? Thank you.

F

FranklinF

LIVE ASSISTED
TurboTax Matches You With a Tax Experts Who Understands Your Unique Situation, Guaranteed. Audit Support Guarantee. Tax Experts Available. Import Prior Year's Data.

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As for your earlier engagement, sometimes the 1099-B does NOT accurately reflects the amounts of the transactions, especially the cost basis, which could have you paying more taxes than you should. As Cindy stated earlier, it may be possible to obtain a supplemental statement from your broker which will make your life way easier.

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G

GRNM

I have this issue as well. However, it is because I am retired and no longer receive this form. This is the first year that TurboTax has put this stop-gap in the process. I am completely frustrated - have to jump through too many hoops and will not use turbotax in the future.