mircpa Posted April 10, 2019 Report Share Posted April 10, 2019 I have a complex situation facing with a client. He was with employer A until mid of last year & had to sell its stock when he quit. Looks like exercise price component is included in W2 wages & short term capital gain sales proceeds & is being shown as paid twice to him. Is that how it is suppose to be or it needs to be backed out with some code in 8949. Can someone please respond who has knowledge on this. Quote Link to comment Share on other sites More sharing options...
Catherine Posted April 10, 2019 Report Share Posted April 10, 2019 Basis report as listed, with correction using Code O2 - "ordinary income reported elsewhere on return." Quote Link to comment Share on other sites More sharing options...
mircpa Posted April 10, 2019 Author Report Share Posted April 10, 2019 Thanks Catherine for response. I don't see code 02 under 8949 codes. You meant Code B-Basis shown in box 1e of of 1099-B is incorrect or code O All other adjustments. I believe these are the closest codes i can think of. Quote Link to comment Share on other sites More sharing options...
Catherine Posted April 11, 2019 Report Share Posted April 11, 2019 Code O (capital O, not zero), sub-code 2. I don't know where they go in ATX; just Drake. Quote Link to comment Share on other sites More sharing options...
mircpa Posted April 11, 2019 Author Report Share Posted April 11, 2019 Thanks Catherine that was a great help 1 Quote Link to comment Share on other sites More sharing options...
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