Transcription of Stock Plan Services
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Stock Plan Services
1 Your Employee Stock Purchase Plan (for Qualified Plans)Only when you sell shares acquired from a qualified employee Stock purchase plan ( espp ) does a taxable event occur. Upon selling shares, you may have taxable ordinary income to report, in addition to any capital gains or losses. Follow the steps outlined in this document to help you determine the IRS tax-reporting to use the Supplemental form to help avoid overpaying taxesDetermining your 2019stock plan tax requirements a step-by-step guide2 Your Employee Stock Purchase Plan (for Qualified Plans)Qualified ESPPWhat is a qualified espp ?A Section 423 espp is qualified under the tax code and allows employees to purchase Stock at a discount from fair market value without any taxes owed on the discount at the time of purchase.
This guide will help you understand which documents are needed and how they are used when you, or your tax advisor, file your taxes. IMPORTANT: Before proceeding, refer to your employer’s plan documents to ensure that you’re enrolled in a qualified ESPP, as the tax treatment is different than in a nonqualified plan.
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