JetService From United States of America, joined Feb 2000, 4798 posts, RR: 12 Posted (11 years 10 months 1 week 4 days ago) and read 784 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!!
Galilee From , joined Dec 1969, posts, RR: Reply 2, posted (11 years 10 months 1 week 4 days ago) and read 775 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.
JetService From United States of America, joined Feb 2000, 4798 posts, RR: 12 Reply 3, posted (11 years 10 months 1 week 3 days 19 hours ago) and read 769 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