Topic Author
Posts: 4611
Joined: Mon Feb 21, 2000 1:12 pm

Tax Question! Schedule D

Fri Feb 15, 2002 7:10 am

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!!
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Posts: 374
Joined: Tue Aug 14, 2001 3:26 am

RE: Tax Question! Schedule D

Fri Feb 15, 2002 7:25 am

last night on channel 29 they had a 3rd rock from the sun episode about taxes, you should've watched that one  Smile
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RE: Tax Question! Schedule D

Fri Feb 15, 2002 7:38 am

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.
Topic Author
Posts: 4611
Joined: Mon Feb 21, 2000 1:12 pm

RE: Tax Question! Schedule D

Fri Feb 15, 2002 12:00 pm

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
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