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Investors & landlords
Thanks for your response. If I opted in net shares option to cover tax withholding automatically by my employer, would I still need to report that to IRS? There were basically 3 options as below. Because I opted in SELL TO COVER, it sold those 12 shares to cover the taxes so did I end up reporting this sale?
My other question, when I sell 28 units, would this be considered as income and I will have to report to IRS and pay taxes again? Would not it be double-taxing?
NET SHARES
Your employer withholds shares to pay your taxes.
SELL TO COVER
Shares are sold to pay your taxes and any commissions or fees.
CASH
Cash in your account is used to pay your taxes.
‎February 17, 2024
2:19 PM