Your understanding is correct for the most part. Assuming the shares sold to pay taxes were sold at the same time they vested, the sale price and cost would be the same. It is possible that were sold after the time they vested, so there may be some capital gain or loss, but it is typically minimal. Assuming you didn't pay anything for the restricted stock units (RSU's), their cost would be the income reported for them on your W-2 form. You can take that cost and divide it by the number of shares acquired to get the cost per share. You can multiply the cost per share times the number of shares sold to pay the taxes to determine the cost of the shares sold. That is the cost you should enter when you report the investment sale in TurboTax.
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