How do i handle the sale of stock options without a 1099b

Forum|Forum|6 years ago
June 1, 2019
1 reply
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How do I report exercising my stock options from my company? I received a check so I'm assuming that it needs to be reported as income. I did not receive a 1099-B form.

TurboTax Deluxe Windows

Best answer by MollsBBU

To visit this section of TurboTax:

With your return open, click the Federal Taxes tab
or Personal if using Home & Business
Then, Wages & Income
Desktop users will then need to click I'll choose what I work on
Click Jump to full list or similar verbiage if you see it
Then, scroll down to the "Investment Income" section.
Online users may need to click Show more to expand the section
Next to "Stocks, Mutual Funds, Bonds, Other" click Start/Update/Revisit
When asked "Did you get a 1099-B or a brokerage statement for these sales?" select No.
Next, Choose the type of investment you sold, then follow the entry screens

If needed, please see this TurboTax FAQ that answers "How Do I Find the Cost Basis for My Investments? "
You may need to click See entire answer below to expand the FAQ.
https://ttlc.intuit.com/replies/3300454

MollsBBUAnswer

Employee

To visit this section of TurboTax:

With your return open, click the Federal Taxes tab
or Personal if using Home & Business
Then, Wages & Income
Desktop users will then need to click I'll choose what I work on
Click Jump to full list or similar verbiage if you see it
Then, scroll down to the "Investment Income" section.
Online users may need to click Show more to expand the section
Next to "Stocks, Mutual Funds, Bonds, Other" click Start/Update/Revisit
When asked "Did you get a 1099-B or a brokerage statement for these sales?" select No.
Next, Choose the type of investment you sold, then follow the entry screens

DisappointedCustomer

This navigation appears to be outdated in 2020, but plenty of help articles still point to this or similar information.

I still can't find the appropriate resolution in the current version of the product.

Irene2805

If the sale of the stock options is reported on your W-2 by your employer, you may see Box 12 contains code V. This means that the income from your stock sale was included in your wages. It is already being included in your income, so you do not need to report anything further. The profits are taxed as ordinary income.

@Rob11_2.dawson.a