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Phil,
Thanks for your help but I recently learned that in Nov 1995, the NY Court of Appeals ruled that non-residents receiving stock options, even when retired must declare the tax in NY in addition to their home state. I got a copy of the document TSB-M-95-(3)1. I have another question concerning the handling of the stock options on my federal return that I hope you can answer. Because I exercised my options using a cashless method, I had to sell shares of stock. I received a W-2 from Bell Atlantic showing the income and taxes taken out but also received a 1099-B from the company that handled the exercise. My question is what do I do with these documents? Do I enter the W-2 amount as income on line 7, 1040 with applicable taxes taken or do I enter the amounts on a schedule D. Or do I enter it in both places, but that doesn't make sense. I appreciate any help.

Thanks,
Frank
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