Paging Matt the Bruins fan: David Boreanaz will be blogging about the NHL playooffs. (but not the Bruins, he'll be following the Flyers.)

[link]

Allyson, if you are feeling overwhelmed it might help to write every single thing that comes into your head that you think needs doing (GTD technique). The idea is that once you put is down it will stop swirling around in your head and causing anxiety.

David Boreanaz will be blogging about the NHL playooffs.

gosh. Flyers are in Philly. So are we. He could stay with us. We haz wifi.

...

if toddler plague and non-star accommodations were not an issue. I do make a mean batch of mussels.

but maybe I'm getting ahead of myself.

Box 14 is just informational so I think you still need to file a Schedule D and just ignore Box 14 on your W-2. Now do you have an entry in box 12 of your W-2 for code 'V'?

No, I don't think so. And I do suspect you're right about Box 14 because I took it out, and it didn't change my tax owed.

What's confusing me is the fact that I owed anything at all before I did the Schedule D. I'm fairly certain I overwithhold, and I didn't change my withholding from the year before, when I got a refund. And my salary was not significantly higher in 2007 than it was in 2006.

You should be taxed on the cost basis at some point, but not twice -- i.e., not at grant AND sale, but one or the other.

I think I'm only taxed at sale. I didn't do anything special last year, when I held stock options but hadn't cashed them out.

Maybe you can contact your HR or payroll person/people and ask if your stock option income was of the non qualifying dispensation type and was therefore included in your W-2 income.

When I have that type of income I actually write a note on my schedule D that the transactions on that 1099 were cashless stock option exercises and they are reported (in my case) in box 12 code 'V'.

I had to deal with the IRS on this issue a few years ago.

If you bought and held, then I'm clueless if there is any tax on the granting of options.

I didn't hold. I sold the same day.

I didn't hold. I sold the same day.

Wouldn't you be taxed on the cost of the options as income, and then the "profit" (i.e., Phase 3) as capital gains? Also, isn't there some rule about short- vs. long-term with stocks?

Because of this?

t cries

But it wasn't my fault!

Thanks for the links, msbelle.

I'm having some feminist rage today.

I don't know. I don't think noting that type of income in W-2 box 12 code 'V' is mandatory, so maybe contacting an HR person to clear things up might help. Somebody should know if that income was included.