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W2, Code V

Level 3

New Client.  Has a W2, code V $27016.  1099B shows proceeds of $16609 and cost basis of $2544.

Obviously, this needs to be corrected.  However client has no info regarding stock due to house fire.

Any suggestions on how to handle so he does not pay twice?

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5 Replies 5
Level 15

Were all the shares sold in 2020?

The employer and/or the brokerage company can also provide info.

Former Chump..oops..AllStar...I used to be a people person, then people ruined it

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Level 11

I just prepared a return with this and it worked out okay. Do a search on this forum and it will be able to help you. Do your research and due diligence and you should be able to handle this matter properly. Just take your time and it should end up being okay.

Level 7

request pay stub from employer for dates before and around stock sale--most often ISO or NQSO(?)stock purchases are most often included in wages (for basis) and sales results ina small loss due to brokerage commissions

Level 3

Thank you.  Good to know.  I will ask my client.


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Level 15

The reason @abctax55 is asking whether all the shares were sold last year is that it looks like a "sell to buy" where the employee exercised an option to buy, for example, 100 shares, but paid for them by selling only 50.  Your client should know what he did.   The employer and broker should have all the records he needs.