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How to report RSU withheld to pay for taxes?
Let's say 100 shares of my RSU vested in 2017, and 30 shares of it were withheld to pay for taxes. Assume each share worths $10 and my base salary is $60000. So I got 70 shares, which worth 70 * 10 = $700 and my total income on w2 becomes 60000 + 700 = $60700. If I use w2 in Turbotax then I need to pay taxes on all of $60700, but I already payed the taxes for the $700, right? Where in the Turbotax I can indicate that I already payed the taxes for the $700? If I don't indicate that I will be double taxed on the $700, right? I am using Turbotax premium and didn't sell any of the 70 shares.
Thanks!
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‎June 3, 2019
1:57 PM