You want to report the adjusted cost basis, which is probably right around $10,000. The adjusted cost basis may be in the supplemental information with your 1099-B or in Box 14 of your W-2. If you can't find this information, TurboTax will take you through the steps to calculate it:
- In the Federal > Income & Expenses > Investment Income section of your return, click Start/Revisit next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
- Answer Yes and then select stocks. Import or enter your transactions manually.
- For the RSU transactions, make sure to select Yes to Do these sales include any employee stock?
- Enter the transactions as they appear on the 1099-B with RSU selected as the type of investment.
- If the basis reported on the 1099-B is not correct, you will be able to adjust it to match the supplemental information provided.
- If you do not have the adjusted cost basis, TurboTax will calculate it, but you must enter the total shares, the shares sold to cover taxes, the vesting date and market price on the vesting date, and the amount you paid in commissions if any.
The $2,800 withheld for taxes as well as the $10,000 in compensation should both be reported on your W-2. For more information on RSUs and how to report them, please see this TurboTax article.
