Retirement tax questions
Thanks @ThomasM125 , I appreciate you sticking with me on this. Some of your directions though aren't quite verbatim step-by-step with the TurboTax website layout. See these pics and tell me if I'm in the right place and entering in what I need to?
- Choose "I'll enter a summary of each sales category"
- No idea where this is.
- Enter the proceeds and cost basis listed on your form 1099-B
- My box 1e on 1099b for any "cost basis" thing is blank
- Choose box A, short term covered
- Check the "I need to enter amounts from box 1f, box 1g, or other adjustments" box
- No idea where this is.
- Subtract the cost basis reported on your 1099-B form from the income reported on your W-2 form for it and enter that amount as "Total adjustments to gain or (loss)" as a negative (-) amount and enter code "B"
- Again, my box 1e on 1099b for any "cost basis" thing is blank......so, based on what you just said I'm assuming my "total adjustment to gain or (loss)" is $1498 because that's what's on my paystub.......what do you mean by "for it" on my W2 form? I have gross wages, net wages, and tax withholding on my W2, that's it. What do you mean "for it"? What is "it" on my W2?
Are the 22 shares withheld paying my employer's taxes or my taxes? If they pay mine, then why am I having to add anything to my taxes for when I sold the shares.
