Question about entering ESPP into TurboTax

katy_bugFebruary 5, 2008

In my situation, my company allows us to contribute to an ESPP and they match 50 cents on the dollar. The contribution is immediately used to purchase stock at the current market value.

For example:

On 1/15/07 I contribute $100 to my ESPP

On 1/16/07 my company purchases $150 if stock in my name at the current market value; letÂs say $50 per share. This happens every paycheck. I recently sold some of these shares and I am having trouble entering it into TurboTax.

In TurboTax:

Number of shares - 3

Purchase date - 1/16/07

Market price on purchase date - $50.00

Date offering period began - ???

Market price on date offering period began - ???

Purchase commission - 0

Is the date offering period the same as the purchase date and the market price the same?

Does the fact that my company matches 50 cents on the dollar count as a discount?

Also - It automatically reinvests the dividends. Do I enter these as lots purchased because it asks about dividends later in the program?

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joann23456

I don't know the answers to your questions, but wanted to suggest that you check out the Quicken support forums. (Click "help" from within Quicken and go to online support.) They talk about all sorts of detailed stuff there, and I'll bet you could find an answer.

    Bookmark   February 13, 2008 at 1:00PM
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katy_bug

I tried that - but the help information is very minimal and they charge you $30 to answer a specific question. Anyways . . . I figured it out and my taxes are on the way. Thanks anyway!

    Bookmark   February 13, 2008 at 1:13PM
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joann23456

In case you need it in the future, I was talking about the Quicken user forums, which are free, though you have to register.

Here is a link that might be useful: Quicken Community Forums

    Bookmark   February 13, 2008 at 1:49PM
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