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Investors & landlords
It sounds like you're on the right track. Yes, you do report this on your tax return.
Your employer most likely sold enough shares to cover the tax withholding, but you'll need to confirm with your employer (or its payroll office). You're probably not seeing a significant change to your tax due because, as you say, your proceeds and cost basis were very close -- very little actual gain was realized from the sale.
To enter this income in TurboTax Home & Business:
- Open TurboTax
- Select Federal Taxes in the banner
- Select Wages & Income in the banner
- Select I'll choose what I work on
- Scroll down to Investment Income and select Start or Review to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other
- Select Yes on the Did you sell any of these investments in 2023? screen
- Select Stocks, Bonds, Mutual Funds, then Continue
- Select Skip Import
- On the Which bank or brokerage is on your 1099‑B? screen, enter your information and select Continue
- Answer Yes to Do these sales include any employee stock? Answer Do you have more than three sales on your 1099‑B? appropriately, then select Continue
- Input all relevant information
See the TurboTax blog How to Report RSUs or Stock Grants on Your Tax Return for more information.
January 28, 2024
7:39 AM