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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
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Experience:  10 years experience
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In my 2015 federal taxes, I had stock options that were

Customer Question

In my 2015 federal taxes, I had stock options that were exercised at reported as personal income. In the end, I owed $4,600. Is there a way to determine how much tax impact the stock options had vs. my normal income (salary + bonus)?
Submitted: 1 year ago.
Category: Tax
Expert:  emc011075 replied 1 year ago.

Hi Tim. My name is ***** ***** I will be happy to help you.

There are many things that could be affected by the stock option, like your tax brackets, certain credits, deductions and such. Did you prepare your taxes yourself or paid somebody do it for you?

Expert:  emc011075 replied 1 year ago.

The best ways would be to use the original software, simply remove the stock option and compare the difference in refund/balance due. If you exercised your option immediately, most of the income was reported on your W2. If you didn't sell it immediately, than some of the option was reported as capital gains and some as ordinary income. You would have to remove the additional amount from your W2 and the capital gains, if any to see the difference the stock option made.

Expert:  emc011075 replied 1 year ago.

Your preparer, if she has access to your return should be able to do the analyses. Without reviewing your return there's no way to tell how the stock option affected your balance due/refund.