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Section 83(b) Election

nolanm
Level 4

Hi all

TP has elected Section 83(B) for shares in employer (private company). Company has provided a letter detailing the excess of fair market value over amount TP paid as $3500. Shares are transferred in Aug 21, and election is made for 2021.

The letter ends by saying "the amount to include in gross income is $3500"

W2 has no detail in box 14.

Can I assume that the $3,500 is included in boxes 1/3 of the W2?

Proseries has a form letter for 83(b) to attach to return, but no ability to add in as additional comp.

Thanks for any help (apologies if a novice question)

Nolan

0 Cheers

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