Offsetting income Schedule D

[Max W]

Client cashed in SSAR's and RSU's which were reported in Box 1 w-2 and form the basis.

Is it better to report these as a  "Offset to W-2" or to use the adjustment Code B.

I prefer to use the former because there was another transaction on the same 1099B for which no basis was reported.

The Offset approach provides more detail, whereas using the Adjustment Code lumps everything together.

TIA

 

 

[jklcpa]

I report them the same as any other stock sale for noncovered transactions where basis isn't reported to IRS, and I enter the basis plus commissions/selling expenses in that box. No adjustments or codes.

[Jack from Ohio]

4 hours ago, jklcpa said:

I report them the same as any other stock sale for noncovered transactions where basis isn't reported to IRS, and I enter the basis plus commissions/selling expenses in that box. No adjustments or codes.

Ditto!!

[Max W]

I think the only time I've used codes is for wash sales and for the homeowners exemption.