Don in Upstate NY Posted February 4, 2015 Report Share Posted February 4, 2015 Client exercised a non-qualified stock option on a same-day basis. His gain on the option was reported on both his W2 (box 12 code V) from his employer and on a 1099-B (code A, short term with basis reported to IRS.) from the broker. We used to adjust the stock basis on the D by the V amount on the W2, resulting in ordinary income of the option gain and a short-term loss of the brokerage commission. How do we do this now (is there an adjustment code for this on the 8949?) [i'm asking what the correct form(s) should look like, not how to input the data into the ATX software.] Quote Link to comment Share on other sites More sharing options...
jklcpa Posted February 4, 2015 Report Share Posted February 4, 2015 See pg 6 of the instructions for form 8949 for how to properly complete columns (f ) and (g ) when the basis is incorrect and how to enter the amounts to reflect the proper gain or loss. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.