I received a 1099-B but the amount I received from stock sale is already in my w2?

Would you clarify if the amount is reported by code V on your W-2 box 12?

"So when I enter the 1099-B info I am essentially getting charged twice for the sale."

That's because you are using the wrong basis when you report the sale.  These days brokers need only report your "out of pocket" cost basis for the sale of stock acquired via some sort of employer stock incentive program.  Accordingly if you simply enter the 1099-B as it reads you do report "double income": once as compensation reported on the W-2 and then again as an overstatement of gain reported on a 1099-B.

Clearly the answer is to report the correct basis.

When you sell stock acquired via an employer stock incentive program your basis for the sale is the sum of:

    Any amount you paid to receive the stock, which might be $0, plus
    Compensation income created either by the acquisition or sale of the stock

(NQSO's and RSU's create compensation at the time of acquisition of the stock.  ISO's and ESPP's can create compensation at the sale of the stock.)

I expect that "Supplemental Information" sheet has the correct per share basis, or at least you can derive the correct per share basis from that information.  So:

Enter the 1099-B exactly as it reads and then click the blue "I'll enter additional info on my own" button.  On the next page enter the correct basis in the "Corrected cost basis" box.  The correct basis is: (# of shares sold) x (per share basis for that lot.)

Tom Young



(SINCE THE DEVELOPERS CHANGE THE SECURITY SALE INTERVIEW EVERY SINGLE YEAR I'LL NOTE THAT THIS ANSWER'S DIRECTIONS ON HOW TO CORRECT THE BASIS FOR THE SALE PERTAINS TO THE 2016 INCOME TAX YEAR.  I'M SURE THAT THE INTERVIEW WILL CHANGE IN THE YEARS AFTER THAT.)