Up for inquiry is the following events affecting my RSU's (triggered by a merger). I'd like to report them properly on 1099-B and anywhere else they need to be. I did not pay for the shares. Note: I've read some of the other help docs but did not see this exact scenario.
01/1/16 - 10 shares fully vest. Share value each is $10, resulting in $100 total compensation income. For each RSU, received cash/share in new stock.
01/1/16 - 4 shares sold for tax. Witholdings handled by company payroll.
02/1/16 - 6 remaining shares sold. Handled by broker.
W2 - Taxes and the total compensation income of $100 are included. (Box 1, Box 14 - Other)
1099-B form displays: Short Term – Noncovered Securities* (Consider Box 5 (Noncovered Security) as being checked and Box 3 (Basis Reported to IRS) as not being checked for this section. These transactions should be reported on Form 8949 Part I with Box B checked.)
(Box 1a) Description : ACME, INC. I81U812
(No Box) Quantity : 6
(Box 1b) Date Acquired : 1/1/16
(Box 1c) Date Sold : 2/1/16
(Box 1d) Gross Proceeds : $60
(Box 1e) Cost Basis : $60
(Box 1g) Wash sale loss : blank
(Box 7) Loss Not Allowed: blank
(Box 4) Fed income tax : blank
Questions:
1) For Box 1e - should the Cost Basis be the total compensation income reported on W-2 of $100?
2) Anything else I need to manipulate to ensure this is correctly entered? I realize I probably will need to not use the import function and enter manually.
thank you!
