GOT IT! Thanks so much!!!

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

<perseus7401[at]gmail.com> wrote:

- quote -

You won't find it on the 1099. You need to look at your
records for the purchase/sale. Your basis is the amount you
actually paid for the shares plus the amount deemed to be
wages (the "V" $$ from your W-2). It should be very close
to the sale price. Usually these transactions wind up a
small loss equal to the fees.

--
Phil Marti
Clarksburg, MD

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Last year was the first time I exercises stock options in my
life, and now, as I'm completing my tax return online, I'm
confused on the part that says: Make sure that you have
properly calculated your ISO or NQSO cost basis.

So I read the instructions and it says:
"look on your Form W-2. It should include an amount called
"NQSO Disposition" or "ISO Disposition" or something
similar. For NQSO stock, you may see an amount on Form W-2
in box 12 with a code "V." "

(I looked and I see that on my w2 forms there is a quantity
that says: V. $6692.40

Instructions then say
"Add this amount from your W-2 to the cost of the shares to
figure the total cost basis to enter for the sale."

I cannot figure out what the cost of the shares is as on the
1099 form all i see is: date of sale, cusip, gross proceeds,
bartering, fed inc tax withheld, number of shares exchanged,
classes of stock exchanged, description.

Anybody can shed light as to how to proceed?

thanks..

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >