Foreign employer stock

Forum|Forum|4 years ago
April 17, 2022
1 reply
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I work for a British company that is traded on the London Stock Exchange. I participate in an employee stock program and we are awarded stock without cost, but the USA facility that I report into and am paid by taxes me on the stock. The stock is disbursed after holding for two years. After I received a certificate, I deposited into my TD Ameritrade account and then sold it in 2021. The basis shows as $0, but again, I did pay USA taxes on it as shown in box 14 of my W-2. How do I update the transaction within Turbotax given that it is asking what the acquired date was (box 1b), cost or other basis (box 1e) and type of gain or loss (box 2)? I did not receive any tax document containing this information from the Brits or Americans.

Thanks in advance!

Stocks

ThomasM125

The date purchased would be when you acquired the stock. As long as you choose a date that correctly reports it as long term (held for more than one year) or short term (held for one year or less) you will be OK.

The cost basis is the income that was reported on your W-2 form. The type of gain would be short-term or long-term, depending on the holding period.

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