1099-B with both reported basis and non-reported basis for RSUs

[tx tx]

I sold some long term vested RSUs in 2024. Taxes were withheld at the original vesting date and "net RSUs" were issued to my account. Within that account, I also had other, non-RSU, investments that I sold in 2024. All non-RSU transactions are populated in the 1099-B  with the basis reported, however, the RSU sales do not have the basis reported in the summary, but are located in the supplemental section. 

When going through TurboTax on-line, it looks like I have to enter details from every sale, including those with the reported basis. Is there a way to manually enter the "Long-term transactions for which basis is not reported to the IRS"  but enter summary totals for the rest of the 1099-B? I have several pages of non-RSU transactions that will take days to enter if not. 

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[DianeW777 · Accepted solution]

Yes, you can enter summary transactions to save you time. Be sure you put together by holding period so the tax treatment is correct. The cost basis of your RSUs is the amount included in your wages when they were granted.

Holding Periods:

• Long term is a holding period of more than one year (one year plus one day) and receives capital gain tax treatment (0%, 10%, 15%, 20% depending on your regular rate of tax)
• Short term is a holding period of one year or less and receives ordinary gain tax treatment (your regular rate)

In 2008, Congress passed legislation which required brokers to report the cost basis for securities and mutual funds to both the investors and the Internal Revenue Service (IRS), effective tax year 2011

the difference between covered and noncovered shares is who keeps track of the cost basis.

• For covered shares, the financial organizations are required to report cost basis to both you and the IRS. 
• For noncovered shares, the cost basis reporting is sent only to you.

You may need to mail Form 8453 to the IRS.

• How do I mail Form 8453?

[tx tx · Accepted solution]

Thanks @DianeW777!

When clicking through to add a 1099-B, it asks if these were RSUs and the number of transactions (4+), and then suggests entering each sale one-by-one. If I'm understanding the previous response correctly, you're saying that I can simply account for the cost basis of "Long Term basis not reported to IRS" and enter that total when completing the summary total?

The TurboTax form states "Total cost or other basis (sum of all Box 1e)." There obviously isn't a total on my 1099-B since it's not reported. Do I manually add the total cost basis and enter it on that line or do I check "I need to adjust my total cost basis?" If I need to click the box, which adjustment code should I use?

Thanks again!

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[DianeW777]

Yes, you can account for the basis and select 'Long Term basis not reported to IRS'. You can manually add the total cost basis, or if you check, 'I need to adjust my total cost basis?', you can use code B. 

• Instructions Form 8949 - Codes 

@tx tx