Hello -
In 2008 I exercised some of my company stock options I was given in
2002. It was a Cashless transaction. My companies stock options are handled through Merril Lynch.Shortly after the transaction I received some paperwork showing the details of the transaction, including taxes and fees that were withheld.
This income and tax withholding is included on the W2 form I received from my company. (There is a V in box 12c, and I've done the math to confirm it was included.)
I am using Turbotax to do my taxes.
Since the income was already added and taxes were withheld, do I still have to enter it in Turbotax (which I believe will include a Schedule D)? Won't it then add it to my income again?
Also, can I deduct the Merrill Lynch fees and commissions?
TIA
Bonnie