Sweet Equity

Yes, you should have informed the employer of the 83(b) election you made to allow the employer of pay social security and Medicare taxes on the value of the shares on the date of your election. Your employer should then have reported the value of the shares as wage income in box 1 of your W-2 form and social security and Medicare income in boxes 3 and 5 with the applicable taxes paid in boxes 4 and 6.

If your employer didn't report the income on your W-2 form, you can do that in the Other Common Income section of TurboTax. Choose the Miscellaneous Income option, then choose Other income not already reported on a Form W-2 or Form 1099. It will appear as wage income on your tax return and the applicable social security and Medicare taxes will be included as well.