Products Affected:
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- ProSeries/1040
- ProSeries Basic/1040
Situation
Unable to locate the Employee Stock Options Worksheet in the 2007 ProSeries tax software.
Solution
New in tax year 2007, the Employee Stock Options Worksheet has been replaced with the Employer Stock Transaction Worksheet.
We have added the ability to handle Multiple Lot purchasing on Employee Stock Purchase Plans in one central location, instead of having multiple worksheets for each purchase and sale. The new version of this worksheet (which was called the Employee Stock Options Worksheet in prior years) has been improved to handle additional Employer Stock such as Restricted Stock and Restricted Stock Units. We have also added an option to make the amount reported as wages show as an adjustment on the Schedule D (this may help curtail letters from the IRS).
Note: In ProSeries/1040, if you use the "Where do I enter?" feature to search for employee stock options the Employee Stock Options Worksheet will display on the list. When you click this link nothing will be displayed, since the worksheet is no longer in the program. This feature is not available in ProSeries Basic/1040.
Additional Information
- View the Employer Stock Video Demo in our new ProSeries Self-Paced training module.
- Open the Employer Stock Transaction Worksheet and press F1 to view the Tax Help for this worksheet.