Filing Employee Stock Options

[cfsadvsr]

How do you account for employee stock options whose sales are included in the taxpayer's W2; yet there is a brokerage 1099 which also reports the sales.
How do you go about protecting the taxpayer from double taxation, yet satisfy the IRS.

[RLymanC]

Stock Sale

I believe all the CAP Gains are on the W-2. Report the stack as being bought and sold the same day. Cost basis and sale price are equal

[Burke]

You posted this twice. See BeesKnees answer on the board. There may be a small loss due to broker's commissions.

[John of PA]

The Sch D reporting is only reporting the holding of the stock during the day the transaction took place. Usually the stock is held for just a few hours and there is a tiny gain or loss to report. The basis for the Sch D is what was reported on the W-2, the bulk of the gain is accounted for on the W-2. You must report both and it actually is not double reporting. Sorry I could not find the other thread.