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Author: 1poorguy Big funky green star, 20000 posts Top Recommended Fools Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: NQSO and tax software Date: 2/12/2006 12:19 AM
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I have a question about how to enter my NQSO exercise into Turbo Tax. An amount was reported on my W2 as income. So I know that I take the cost of the options plus the W2 income reported from the sale for my basis (same day sale). However, there is a small box "taxes were witheld on this sale (box 4)". Yes, they were (at a rate of 25% fed, plus SS 6.2%, plus medicare 1.45% plus state tax 5.75%). However, I'm uncertain if that already has been handled by adding my W2 income from the sale to the basis. If I check that box my amount owed drops dramatically (actually it becomes a refund). I like that, but maybe it is counting the taxes witheld twice??

Anyone know for sure??

Thanks,
1poorguy
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