First you need to know your cost basis which is the fair market value per share on the vesting date (the amount included in your earnings on the W-2 divided by the shares that vested). To report RSU sales in TurboTax: Investment Income > Select Stocks, Mutual Funds, Bonds, Other, click the start or update button Select the Box labeled Stocks, Bonds, Mutual Funds (1099-B) > Continue > Continue > I'll type it myself When you enter you 1099-B information you will be asked: 'Do these sales include any employee stock? This includes ESPP, RSU, RS, NQSO, and ISO' Say yes. Then you will be asked 'What type of investment did you sell?' Select 'Restricted stock units' Check the box that says 'The cost basis is incorrect or missing on my 1099-B' Then select 'I need help figuring out my cost basis'Continue to complete your sale of the shares used to pay the additional tax. The taxes paid are included in your W-2 (federal withholding, social security and medicare tax).

Question

Was awarded company stock and it was listed as earnings, but they also sold stock to pay the taxes. how do i file this stock tax offset on my taxes

Forum|Forum|4 years ago
March 28, 2022
1 reply
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TurboTax Premier Online

D

DianeW777

First you need to know your cost basis which is the fair market value per share on the vesting date (the amount included in your earnings on the W-2 divided by the shares that vested).

To report RSU sales in TurboTax: Investment Income > Select Stocks, Mutual Funds, Bonds, Other, click the start or update button

Select the Box labeled Stocks, Bonds, Mutual Funds (1099-B) > Continue > Continue > I'll type it myself
When you enter you 1099-B information you will be asked: 'Do these sales include any employee stock? This includes ESPP, RSU, RS, NQSO, and ISO' Say yes.
Then you will be asked 'What type of investment did you sell?' Select 'Restricted stock units'
Check the box that says 'The cost basis is incorrect or missing on my 1099-B'
Then select 'I need help figuring out my cost basis'

Continue to complete your sale of the shares used to pay the additional tax. The taxes paid are included in your W-2 (federal withholding, social security and medicare tax).

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M

mach5djAuthor

Was awarded total of 49 shares of Restricted Stock Units on 15 Mar 2021. of the 49 shares only sold 15 units to cover taxes and expenses.

delivery date was 15 March 2021

trade date was 16march 2021

fair market value 25.17

selling price 24.65

Please explain how to input into Turbo tax

thanks

JohnB5677

@DianeW777 Provided excellent directions.

You will post the W-2 exactly as you have it.

You will then post the sale of the 15 Units.

Go to

Wages & Income
Scroll to Investments and Savings
Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
Time to kick off your investments! = Okay
Relax. We got it.= Continue
Let's import your tax info = Enter a different way
Select what you want to post from the 5 boxes.
Select Stocks, Bonds, Mutual Funds = Continue
When you enter your 1099-B information you will be asked: 'Do these sales include any employee stock?
This includes ESPP, RSU, RS, NQSO, and ISO' > Yes
'What type of investment did you sell?' > Restricted stock units
Check the box that says 'The cost basis is incorrect or missing on my 1099-B'
Then select 'I need help figuring out my cost basis'