Get your taxes done using TurboTax

Question 1 - Yes, the term "Long Term Incentive Plan" appears to be how your company described its plan for its employees.  The specific name of the plan will not affect any capital gain/loss or cost information that you need to enter into TurboTax.

Question 2 - Yes, you can enter the name of the financial institution that effected the sales of the RSUs.  If space permits, you could enter both the name of the financial institution and the name of your company (you could abbreviate both names as well).  As long as you understand the entry, it does not matter how you identify the entity that sold your RSUs.  Perhaps the name of the financial institution is the better option.

Question 3 - Because it appears that you were awarded RSUs which you later sold, then it is appropriate to respond with a "yes" when asked whether the stock you sold was employer stock.  RSUs are a form of compensation awarded to employees.  RSUs are typically issued by public companies, and therefore, the RSUs are a form of employer stock.  TurboTax will ask additional questions regarding your RSUs to better understand whether you have a gain or a loss, and your basis (i.e., cost).  Do not skip over this section even if you believe your refund amount is greater when answering all of the questions in this section.   Your goal is to prepare an accurate tax return,  paying no more tax or no less tax that is due.

Question 4 - If the award date is the same as the vesting date, then yes, use the award date.  Essentially, the date you want to use is the date the shares were awarded to you such that there were no restrictions on the RSUs.  In other words, you could sell them or hold them because the RSUs had vested with you. 

Question 5a - Yes, that appears correct.  You can provide additional information about your cost basis if appropriate; however multiplying the number of shares by the RSU price on the date the RSUs vested with you is the way to determine your basis.  RSUs are considered part of your wages, so they're also already included in Box 1 of your W-2, which reports your wages.  

The value of RSUs is typically recorded in Box 14 of the W-2, which is labeled "Other."  Box 14 doesn't have a standard list of codes, thus allowing employers to enter any description they like. You might see the value of your vested stock followed by "RSU."

Here is an example, suppose you have $234,567 reported in Box 1 as wages and $12,345 reported in Box 14 labeled as RSUs. The $12,345 has been included already in the $234,567 amount, so you don't have to add the RSUs in Box 14 to your wages when you file your taxes.

Question 5b - No, TurboTax will not be able to determine your cost basis.  You need to enter that information into TurboTax in the appropriate section.  

Follow-up with additional information if necessary as you work your way through the section that concerns your RSUs.  Additionally, here is a link to a TurboTax article that addresses RSUs which you might find helpful.

How to Report RSUs on Your Tax Return

@UserGK