The company further reports W2 income for such transactions, showing up in box 12 of the W2. Given that I did not sell the shares, there is only the gain reported as W2 income already. Therefore I don't need to report these on schedule D (until such time as I sell them). Correct?Correct. The difference between FMV and the option strike price is ordinary income, and reported on your W-2. Now you own the stock with that FMV as the basis, and and gain/loss from that number when you sell will be on your Schedule D.
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