The stock you received is treated as taxable income because you received an economic benefit by getting something without having to pay for it. When you sell it, you can deduct the amount you reported as income this year from the sale proceeds and it will reduce your taxable gain.
You cannot use the free TurboTax product since that product only includes routine tax entries for forms such as W-2's. As your income and deduction entries become more complicated, you need to use the paid versions of TurboTax to compensate the company for the extra programming effort necessary to process more complicated entries.
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