For RSUs, the cost basis should be the Fair Market Value (FMV) of the shares on the day they vest. This should be listed on your supplemental information received with Form 1099B. You'll need to adjust your basis to avoid being double taxed. You should have some kind of records to determine the FMV. Your daughter's employer should be able to assist as well.
To adjust the basis on your RSU sales in TurboTax:
- In the Federal > Income & Expenses > Investment Income section of your return, click Start/Revisit next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
- Answer Yes and then select stocks. Import or enter your transactions manually.
- For the RSU transactions, make sure to select Yes to Do these sales include any employee stock?
- Enter the transactions as they appear on the 1099-B with RSU selected as the type of investment.
- If the basis reported on the 1099-B is not correct, you will be able to adjust it to match the supplemental information provided on the next screen, Enter your cost basis to ensure your best outcome. If you have the basis for the sold stocks, you can enter it under I found my cost basis. Otherwise, select I can't find it and need help and TurboTax will determine the basis using your brokerage information.
Please review the link below for more information:
Cost Basis of RSU
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