I keep hearing to be super careful about reporting your ESPP sales in Turbo Tax that you are not double taxed, and you need to adjust your cost basis to account for this.
Am I correct in assuming this only applies if the ordinary income from ESPP sales has been reported on your W2? My company did NOT report this on my W2 (I even checked with them to be sure), so in my eyes I have not yet been taxed on this. So I don't need to be worried about being double taxed.
Is that a correct assumption?
These are qualified dispositions (held for 2 years) if that makes a difference.
Am I correct in assuming this only applies if the ordinary income from ESPP sales has been reported on your W2? My company did NOT report this on my W2 (I even checked with them to be sure), so in my eyes I have not yet been taxed on this. So I don't need to be worried about being double taxed.
Is that a correct assumption?
These are qualified dispositions (held for 2 years) if that makes a difference.
Statistics: Posted by JD2775 — Fri Feb 09, 2024 7:50 pm — Replies 4 — Views 331