My W2 reported 3956.46 in Box 14 as RSU. Now I am looking at 1099B from E*Trade, to calculate the cost basis. At the time of vesting, employer sold almost 1/3 of total shares to cover the taxes. This meant 2/3 of the shares were ultimately credited to my account. When I import 1099B, it is increasing my tax liability which seems like a double taxation, since taxes were already withheld at vesting.
So here is an example:-
If 30 stocks each at current market value of $10 (for a total of $300) vested and employer sold 10 of theses shares and withheld proceeds ($100) for taxes (crediting 20 stocks in my trading account) then what is my cost basis for this event ? I am guessing my cost basis is still $300 ?
I need to find this to key in the same number in TurboTax in "Box 1e - Cost or other basis".
I have not sold these shares, so again I am assuming, there is no loss/gain as yet.
