Yes, if not done properly you will get taxed twice. Your employer correctly posted it to your
W-2. This will reflect all of the compensation that you were entitled to. However, You must also report the stock sale.
Brokers are only required to report your "out of pocket" cost on the 1099-B when you sell some of that stock. Since your out of pocket cost for stock acquired via RSUs is typically $0, that's what you should see on the 1099-B and, clearly, if you report a sale of that stock using the $0 cost reported by the broker you end up reporting income twice on your income tax return: once as "compensation" as reported on the W-2 and then again as "capital gain" as reported on the 1099-B! Original Post
To post the adjusted cost basis go to:
- The income section
- Scroll to Investment Income
- Select Stocks, Mutual Funds ...
- Select your broker
- Continue and select the RSU
- On the data entry screen, at the bottom you should select I'll Enter Additional Info on my own
- Toward the bottom in BOX 2 it has a place to Correct The Cost Basis
- Make the adjustment here.
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