Is there a calculation bug in the 1099B? I loaded non-covered RSU's from Morgan Stanley. Two rows are exactly the same, one calcs correct, the other does not.

Forum|Forum|1 year ago
April 21, 2024
1 reply
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Short-term, non covered. Row 1, 1d) Proceeds $1,025.66, 1e $0, Select the cost basis is missing, adjusted cost basis $1,046.85. Gain/Loss calcs at -$21.19. Row 2, exact same as row 1, but calculates the gain/loss as $1,025.66 (which is incorrect, it is calculating the gain as the proceeds and excluding cost basis).

TurboTax Online

DawnC

Employee

Edit the sale information in TurboTax. If you sold restricted stock units (RSUs) or shares from your employee stock purchase plan (ESPP), these are reported on Form 1099-B.

To report the sale of shares, you’ll enter or import your Form 1099-B into TurboTax, then manually enter the cost basis. Entering RSUs in TurboTax. When you go through the RSU interview in TurboTax, you will be asked about the basis. Normally, the compensation portion of the basis is included on your W-2.

Issues with cost basis and RSUs - If the 1099 is wrong, you will need a corrected copy. If it is correct, you can manually edit the basis information in TurboTax. The link has instructions.

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TomD8

Employee

You can determine the per share cost basis of your RSU's by dividing the compensation created by the vesting (which is reported on your W-2) by the gross number of shares you received (including any shares sold for taxes) at that vesting..

**Answers are correct to the best of my ability but do not constitute tax or legal advice.