Dr. Friday 0:00
Good day. I’m Dr. Friday president of Dr. Friday’s tax and financial firm. To get more info go to www.drfriday.com. This is a one-minute moment.
Dr. Friday 0:12
“I purchased stock from my employer under a 423 employee stock purchase and received a 1099 B for selling it. How do I report this?” And this is very important because you’re going to have two situations you’re going to have a Schedule D where you report the gain, but you may also have an AMT tax that you have to report the sale with. Sometimes that can kick you into a whole different tax bracket and understanding the difference because a lot of people say Wait, they already took the taxes out of my W2, I shouldn’t have to pay it twice. You might want to revisit that though it isn’t taxed twice. But there is a difference. Give us a call at 615-367-0819.
You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.