You need to make adjustments to the cost basis of the RSUs sold. You should have supplemental information on the RSUs. Use that info to adjust the cost basis to avoid double taxation.
Log in to your brokerage account and look for supplemental information on your RSU transactions. When you enter the 1099-B into TurboTax, make sure to make adjustments to the cost basis to avoid double taxation.
Follow these steps to enter:
With your federal tax return open:
- Go to Income & Expenses > Investment Income, click on Start or Revisit next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
- On the next screen, answer Yes to Did you sell any of these investments in 2021?
- Select Stocks, Bonds, Mutual Funds and Continue
- Select I'll type it myself on the screen that says Let's import your tax information and enter the Name of the brokerage or bank
- Select Yes to Do these sales include any employee stock?
- Select Enter one by one on the next screen
- In the Sales info section, select RSU as the type of investment you sold
- Make sure to check the box The cost basis is incorrect or missing on my 1099‑B below Box 1e on the screen when you enter your sale transactions. You can adjust the cost basis to avoid double taxation.
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