Sponsor Message:
Non Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
Tax Question! Schedule D  
User currently offlineJetService From United States of America, joined Feb 2000, 4798 posts, RR: 11
Posted (12 years 10 months 1 week 4 days 4 hours ago) and read 961 times:

Does anyone know if I am supposed to file a Schedule D for Capital Gains/Loss if I exercise unqualified company stock options? The proceeds appeared as part of my regular income on my W-2. It was even taxed at 28% when I received the check. Financial service provider insists 'NO!' and tax-preparer wasn't sure but said 'yes'. Any tax experts in here??!!!! I don't want to get audited!!


"Shaddap you!"
3 replies: All unread, jump to last
 
User currently offlineYazoo From United States of America, joined Aug 2001, 487 posts, RR: 0
Reply 1, posted (12 years 10 months 1 week 4 days 4 hours ago) and read 954 times:

last night on channel 29 they had a 3rd rock from the sun episode about taxes, you should've watched that one  Smile


Purple Pride!
User currently offlineGalilee From , joined Dec 1969, posts, RR:
Reply 2, posted (12 years 10 months 1 week 4 days 4 hours ago) and read 952 times:

I am not a tax expert, but I can tell you that "NO", you do not have to file this in a schedule D. It appeared as income, and was taxed as income, so it gets filed as income. I have been filling out long form for four years. I have 401K, and tuition reimbersment. The tuition reimbersment works much the same as your unequalified company stocks and I never needed to file a schedule D. But like always, this should be something that your tax-preparer knows! There maybe other things that he/she does not know in which you could benefit directly. My suggestion would be to go to an accountant at least once to see what they can do for you. Besides, tax laws are always changing, and they "must" know them because their job depends on it.

Hope this helps.


User currently offlineJetService From United States of America, joined Feb 2000, 4798 posts, RR: 11
Reply 3, posted (12 years 10 months 1 week 3 days 23 hours ago) and read 946 times:

Galilee, I actually enjoy doing my taxes. I've always done them until 3 years ago because my wife did that Tupperware thing. That's treated like owning a business and was way over my head. She quit in 2000, so I'm back to doing them myself. This year, I had a new one. I had to do a Recapture of Federal Subsity form because I sold my house that I got a First-Time Homebuyer credit on before 9 years. I sold at 8 yrs-9 mos (BOITCH!). Fun stuff! But thanks for your answer. Digging around since original post, I found instructions and tips from finance provider. Basically it said I could file a Schedule D to prove I didn't have to file a Schedule D. LOL! It actually shows a capital loss as the fees I paid ($56). That comes off my taxable income, so it gave me an extra 7 bucks! heeheehee



"Shaddap you!"
Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
Income Tax Question - Loss On Stock Exchange... posted Tue Oct 11 2005 02:51:00 by A332
Income Tax Question posted Fri Aug 12 2005 15:17:15 by UAL Bagsmasher
Fafsa Renewal, Tax Section Question posted Sun Jul 24 2005 22:59:03 by Lehpron
Naval Gun Question posted Tue Dec 12 2006 15:42:50 by LHMARK
A Question For Our American Police Members posted Tue Dec 12 2006 15:41:38 by 53Sqdn
Random Question: Lemons... posted Tue Dec 12 2006 00:34:45 by QXatFAT
PC Computer Question posted Mon Dec 11 2006 19:18:38 by UA777222
Question About Filling Up... posted Mon Dec 11 2006 03:05:44 by Sleekjet
A Question On Telescopes posted Mon Dec 11 2006 01:59:16 by B741
Question For Trains Experts. posted Sun Dec 10 2006 03:31:35 by Acheron