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My client has received stock options. However, they are reported on a 1099-NEC because she is technically not an employee of that company. Also, no 1099-B is issued. Not sure why. All I have is an account printout showing stock granted, vested, exercised, etc. I'm having trouble using the Exercise stock options worksheet on ProSeries. Does anyone have experience with stock options on a 1099-NEC with no 1099-B? Thanks
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♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Yes. She did sell some. Granted 2500 on 3/15/18. Each month 52 shares vest. At the time of her sale, 1406 vested and she sold 120 shares. No 1099-B.
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How about skipping the worksheet?
Sounds like you have basis and sales price; date acquired and date sold.
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I will probably do that. I was hoping the worksheet might help to track year to year and carry forward unsold stock.
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Is this a publicly-traded company or are these "phantom" shares for which they are coming up with a figure that the shares are worth, and paying her cash for those when she asks for it?
If there are real shares involved, they would be sold through a broker who may have signed her up for email delivery of statements. Sometimes you have to rely on clients to ask some questions.
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Thanks. I'll have her check again. They are publicly traded - NASDAQ - but is very confusing. She works for One Medical but the shares are offered through a difference company. Since she is not an employee, she received a 1099-NEC for the stock options instead of them being reported on her w-2
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Did a return this year for a client with similar activity... She was retired and the old employer did Issue a W-2... She had to make a few phone calls or so to get the necessary documentation for me.... it is a publicly traded Fortune 500 company...