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Get your taxes done using TurboTax
thank you, rjs for making it so clear! while I do recall receiving a handful of free shares as part of profit sharing, funny thing is I do not recall selling any of them. so I dug a bit more and uncovered that this transaction was classified as "sold to cover". I am not 100% sure what that means, but it appears as though the company I work for sold some of the shares to cover taxes or something along those lines, and that transaction has resulted in the 1099-B I received. do you happen to know what it means, and more importantly how does that affect my taxes? do I still need to report it in the fashion I described in my initial question, or is there a different approach to reporting a "sell to cover" scenario? thank you for your time!
‎April 12, 2021
9:34 PM