Where is option to adjust cost basis for NQSO?

Forum|Forum|4 years ago
March 28, 2022
2 replies
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Can I update the cost basis for NQSOs during the interview steps? I don't see a place to do it.

AmyC

Employee

Yes, follow these steps:

After entering the 1099-B, continue
Done, Sale of employee stock? Yes
Remember? yes or no
continue
Select NQSO
continue
Identify employer, continue
same day or not?
continue
Enter sales date and number of shares.
continue
Total proceeds summary
continue
lots are identified, continue
then purchase information can be entered
continue
view results

In program, under Investment Income there is an article explaining to adjust basis by adding W2 compensation - if it was not added in 1099-B - most likely, it was not added. A same day cashless transaction will usually net a small loss representing commission and fees for the transaction.

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dianeoAuthor

Your steps matched my Premier version, up until near the end. I ended up actually changing the FMV on the Employee Stock Worksheet to get the numbers I needed. The compensation income verification didn't match, so I made the FMV change for the NQSO where the step-by-step process wasn't working properly.

Thanks for such detailed steps. I appreciate you effort to help.

daxers3

I hope its help