ESPP and RSU

Forum|Forum|4 years ago
April 10, 2022
1 reply
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I Received a 3922 that looks liks=e a 1099B from my employer. What do I do with that?

Also, on my W2 In box 4 listed is ESPP DD $1400 and RSU $7500, do I do anything with that?

I also received from my broker a 1099B, which looks like the same stock sold with no cost basis.

How do I handle this?

AmyC

Employee

Yes, you put all of the pieces together and enter them. The form 3922 is informational and for record keeping. ESPP and RSU are very different beasts. The ESPP is taxed differently depending on the circumstances. See ESPP information:

The RSU stock vested and the fair market value on the date of vesting was added to your w2 $7500- as shown in box 14. Companies often don't give this information to the brokerage - or the wrong amount is reported. So, your basis of zero will need to be adjusted. See What are RSUs and how do I report them?

The IRS puts this in the employee's hands to track their own basis. I want to urge you to create a financial notebook that is kept separate from your tax return. Keep it safe and each year, add your year-end statements from all your financial accounts plus a copy of your W2’s. This will protect you down the road as proof of your basis in your various investments. As you go through life, rollovers, RSU basis and sales, and more will be captured for you.

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