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I'm confused! I sold some of my company issued options a month after recieving them. I recieved the net pay of about $535 from the company broker, but the total sale was $2270 (original cost of options was therefore $1735).
Now that tax session has arrived, I recieved my W-2 form that includes the $535 I recieved for my options. The company book keeper said that's how these earnings are reported, as part of my W-2 income. Sounds fine to me. BUT, now I've recieved a 1099-B from the broker ("Proceeds From Broker And Barter Exchang Transactions") stating the $2270 amount under Stocks, Bonds, etc.. I called the broker, who said just to keep it for my records. But on the back of the 1099-B statement, it says I have to claim it on a Schedule D form. What the heck?!?
Whats a tax payer to do? How can I claim this amount? I never recieved this amount. I was aready taxed on it through my W-2 income amount. Is anyone out there familiar with this situation? I would appreciate any advice.
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