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Get your taxes done using TurboTax
Thank you Diane!
In determining the cost basis, I'm looking at her last paystub from 2021 which shows Restricted Stock is $34,000. The Proceeds reported to the IRS is $24,000. Does this sound right? The amount that was included in Box 1 of W-2 was $57,000. Is the $57,000 a sum of the $34,000 and $24,000 +-? When I enter $34,000 as the cost basis on 8949, this comes out favorably because it reduces income by $10,000. Could she put $57,000 as her Cost Basis? She has never sold any of these shares.
March 6, 2023
10:30 AM