Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Where on the tax return do I enter the compensation income I had from the sale of stock that I purchased under my employers stock purchase program?

April 26, 2017compensation employer enter income program purchase sale stock tax return

0

Posted

Where on the tax return do I enter the compensation income I had from the sale of stock that I purchased under my employers stock purchase program?

1 Answer

0

Posted

The compensation income is reported on line 7 (wages, salaries, tips, etc.) of Form 1040. It is added to the stock’s basis used when determining capital gain or loss on the sale of the stock. Any capital gain or loss on the stock sale is reported on Form 1040, SCHEDULE D, Capital Gains and Losses.