HOW DO i REPORT FORM 3922 ON MY TAX RETURN?
Form 3922 is used to report the transfer of stock acquired through an employee stock purchase plan (ESPP) under Section 423(c). While you don't need to attach Form 3922 to your tax return, the information on it is important for accurately reporting your stock transactions. Here's how to use the information from Form 3922: 1. **Identify Key Information**: Form 3922 provides details like the date you acquired the stock, the fair market value (FMV) at the time of acquisition, and the purchase price. 2. **Determine Your Cost Basis**: The cost basis is generally the purchase price you paid for the stock. However, if you received a discount, you might need to adjust the basis. The form will help you figure this out. 3. **Report the Sale**: When you sell the stock, you'll need to report the sale on Schedule D and Form 8949. Here's what to do: - **Form 8949**: Enter the details of the sale, including the date you acquired the stock, the date you sold it, the proceeds from the sale, and your adjusted cost basis. - **Schedule D**: Summarize the information from Form 8949. 4. **Calculate Gain or Loss**: Subtract your adjusted cost basis from the sale proceeds to determine your capital gain or loss. This will be either short-term or long-term, depending on how long you held the stock. 5.
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