# Questions about tax forms \[edited title\] **URL:** \ **Category:** Factual Questions\ **Created:** [December 16, 2010, 12:50am UTC](https://boards.straightdope.com/t/questions-about-tax-forms-edited-title/564311 "2010-12-16T00:50:49Z")\ **Posts on this page:** 5\ **Page:** 2
**Author:** ![zut](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/zut/32/2875_2.png) [@zut](https://boards.straightdope.com/u/zut)\ **Post date:** [December 16, 2010, 6:26pm UTC](https://boards.straightdope.com/t/questions-about-tax-forms-edited-title/564311/21 "2010-12-16T18:26:30Z")
To be fair, “so I put a Slizzapin’ down upon Wall Street, in that Bitch’s face” seems pretty descriptive to me. _Poetically_ descriptive, in fact. ---
**Author:** ![Sunspace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sunspace/32/1250_2.png) [@Sunspace](https://boards.straightdope.com/u/Sunspace)\ **Post date:** [December 16, 2010, 6:40pm UTC](https://boards.straightdope.com/t/questions-about-tax-forms-edited-title/564311/22 "2010-12-16T18:40:51Z")
> [@Autolycus](#): > > And it’s making me laugh like a loon. Different strokes for different fizzolks and shit. That’s what this loopy-dupe board is like all about, amirite? > > By the way, what is Schedule D. It sounds like an ominous supervillian plan for world domination. Is it anything like [Phase 2](http://www.theonion.com/articles/starbucks-to-begin-sinister-phase-two-of-operation,416/)? > [@zut](#): > > To be fair, “so I put a Slizzapin’ down upon Wall Street, in that Bitch’s face” seems pretty descriptive to me. _Poetically_ descriptive, in fact. As the Master said, “99 44-100ths % pure _what?_” 😃 ---
**Author:** ![CookingWithGas](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cookingwithgas/32/485_2.png) [@CookingWithGas](https://boards.straightdope.com/u/CookingWithGas)\ **Post date:** [December 16, 2010, 9:30pm UTC](https://boards.straightdope.com/t/questions-about-tax-forms-edited-title/564311/23 "2010-12-16T21:30:08Z")
> [@dracoi](#): > > Most of the time, a sale from a stock option is reported in W-2 earnings, less a commission. Thus, there’s actually a capital **loss** on Sch D for the amount of the sales commission. The documentation will itemize these expenses and also provide some explanation regarding when/how the stock was acquired/vested, the type of plan it was under, etc. It’s the only way to be sure it gets done right. Do you itemize the commission? I always reported the gain net the commission instead of reporting it as a separate loss. Oops. Thank God for statute of limitations. > [@Quercus](#): > > Wait, if the $5106 initial investment is after tax (and therefore already declared as income at the time), then why is the full $9165 in proceeds income? Shouldn’t income only be the $4095 difference? > Oh, and shit. Yes, only the gain is taxable, not the entire muhfuckin proceeds. (And as I mentioned earlier, in some situations there is a taxable event when you execute the option; in the crazy-assed OP’s situation it is most likely that there is no taxable event until the sale. But he should see his tax advisor, if they will allow him into the office.) ---
**Author:** ![dracoi](https://avatars.discourse-cdn.com/v4/letter/d/90db22/32.png) [@dracoi](https://boards.straightdope.com/u/dracoi)\ **Post date:** [December 17, 2010, 1:23am UTC](https://boards.straightdope.com/t/questions-about-tax-forms-edited-title/564311/24 "2010-12-17T01:23:26Z")
> [@CookingWithGas](#): > > Do you itemize the commission? I always reported the gain net the commission instead of reporting it as a separate loss. Oops. Thank God for statute of limitations. You’re doing it right. I prefer to add the commission as a cost of sale to the basis, but many brokers report the sales net of commission. Either way is legitimate and I didn’t mean to imply it needed a second line on the Sch D. What I’m saying is that a typical employee stock transaction looks like this: $2000 stock sale -$100 Federal tax withholding -$124 Social Security -$29 Medicare -$25 commission * * * $1723 actually paid to the employee. BUT $2,000 was still added to the gross wages on W-2. So I’d report it as $2000 proceeds of sale, with $2025 basis for a loss of $25. ---
**Author:** ![Rachellelogram](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/rachellelogram/32/8689_2.png) [@Rachellelogram](https://boards.straightdope.com/u/Rachellelogram)\ **Post date:** [December 17, 2010, 1:50am UTC](https://boards.straightdope.com/t/questions-about-tax-forms-edited-title/564311/25 "2010-12-17T01:50:10Z")
Won’t turbo tax figure all this shit out for you, and shit? [Previous page](https://boards.straightdope.com/t/questions-about-tax-forms-edited-title/564311.md?page=1)