- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Most likely you would have paid tax on the value of the stock when you acquired it and it would have been reported as wage income on your W-2 form that year. Also, it appears to be a Restricted Stock Unit (RSU) from what you describe and if so, some of the shares would have been sold to pay the social security and Medicare tax due on the wage income associated with it. That would be 7.65% of the $900 in this case, or $69. So it is possible that the cost basis you can enter on the stock sale in 2023 would be the original value of $900 less $69, or $831.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 20, 2024
5:56 PM