I can think of three reasons this might be. Reason one is that you have enough capital losses to offset all your capital gains, even if your RSUs are being calculated entirely as a gain. If this were the case, correcting the basis would still be beneficial as it would allow you to carry forward more capital losses.
Reason two is that the import already adjusted your basis somewhere and you just missed it, so the gain from the sale is already 0 or minimal.
Reason three is that when you attempted to adjust the basis, something went wrong and the gain is still being reported. To adjust the basis on your RSU sales in TurboTax:
- In the Federal > Income & Expenses > Investment Income section of your return, click Start/Revisit next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
- Answer Yes and then select stocks. Import or enter your transactions manually.
- For the RSU transactions, make sure to select Yes to Do these sales include any employee stock?
- Enter the transactions as they appear on the 1099-B with RSU selected as the type of investment.
- If the basis reported on the 1099-B is not correct, you will be able to adjust it to match the supplemental information provided on the next screen, Enter your cost basis to ensure your best outcome. If you have the basis for the sold stocks, you can enter it under I found my cost basis. Otherwise, select I can't find it and need help and TurboTax will determine the basis using your brokerage information.
Ok, I'll give you a bonus fourth reason that doesn't seem too likely. You are beneath the taxable threshold or have enough deductions and nonrefundable credits so the gains are not generating any income tax. Your taxes due may be from self-employment.
