It sounds like you need to adjust the basis on the sale of your RSUs. Your 1099-B may report no basis for these sales. This needs to be adjusted since the price on the vesting date has been included in your compensation on your W-2. The supplemental information from your broker may have the adjusted cost basis for each sale. It may also be found in Box 14 of your W-2 or other information supplied by your employer. If you cannot find the adjusted cost basis, TurboTax will adjust it when you provide all the relevant information:
- 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.
- If you do not have the adjusted cost basis, TurboTax will calculate it, but you must enter the total shares, the shares sold to cover taxes, the vesting date and market price on the vesting date, as well as the amount you paid in commissions if any.
- You will have to repeat this for each sale. When done correctly, the capital gains on the sales to cover taxes should be close to 0 and the ones that you sold at a later date will only be for the difference of the market price on the exercise date and the sale date.
@Klewisx333
