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If the planets are in alignment TT will add the box 14 amount to your basis shown on Schedule D where the sale will be reported. These exercises usually wind up with a small Schedule D loss equal to the fees.

Be sure you know what the correct result is and can tell whether TurboTax is producing the correct result. In tax year 2000, I exercised some non-qualified stock options and held the stock. I later sold the stock. I fully understood exactly what should happen on my tax return. However, the instructions and wizard in TurboTax were so unclear that it took me six tries to figure out how to enter the information to achieve the correct result.

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