Question

I worked for Boeing and was given shares of stock under the Share Value Program. I sold the stock in 2019. How do I classify this type of stock on my taxes since I didn’t buy them?

Forum|Forum|6 years ago
March 4, 2020
2 replies
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I worked for Boeing in 2005.

TurboTax Premier Online

You will report the sale of your stock on Form 1099-B. Follow these steps to enter your stock sale.

With TurboTax open enter 1099b form in the search box.
Then select Goto 1099-B in the results window.
Follow the prompts to the page Now we'll walk you through entering the info on your 1099-B
From the dropdown menu What type of investment did you sell? You will select how you obtained the stock.

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Carl11_2

Employee

since I didn’t buy them?

Might want to check your W-2 on that. It could be compensation paid to you in the form of company stock. It could be included in box 12 with a code V, or box 14 with whatever code(s) would be applicable for that box.

DawnC

Employee

You can select I purchased the stock for purposes of reporting the sale. If you had the stock for more than a year, it is a long-term sale. The basis of the stock is what you paid ($0), adjusted for stock splits and dividend reinvestments. The amount paid includes any amounts reported as compensation per share on your W-2 in the year the stock vested or an 83(b) election was made. You may need to adjust the cost basis of your stock. Adjusting the cost basis will help you report your sales accurately and get the best tax outcome. In order to adjust your basis, enter your sales one at a time.

Since this is employee stock and the information provided to you is probably incomplete and will need adjusting, you should enter the sale of the stock in TurboTax Premier as Employee Stock. You should have received a 1099-B (or statement) from the broker who held the shares. Answer Yes to the 1099-B question even if you are using a broker statement to report the sale. And then answer Yes, to the Do these sales include employee stock? question. Start the sale entry over from the main Investments screen if you already started entering the sale as non-employee stock. This way, TurboTax can walk you through reporting the sale correctly and in the most tax advantageous way.

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